Brief: Garo Expands Action Program In Garo E-Mobility

Garo AB

16/09/2024 07:35

Sept 16 (Reuters) - Garo AB  GARO.ST :
    * EXPANDS ACTION PROGRAM IN GARO E-MOBILITY, ADAPTS THE
ORGANIZATION TO PREVAILING MARKET CONDITIONS AND IMPAIRS
INVENTORIES IN THE THIRD QUARTER
    * EXPANDS ACTION PROGRAM FROM SPRING TO MAKE ADDITIONAL
ANNUAL
SAVINGS OF ABOUT MSEK 40
    * EFFECTS OF EXPANDED ACTION PROGRAM EXPECTED TO BE
GENERATED IN
Q1 OF 2025
    * SEES MARKET CONDITIONS TO GRADUALLY IMPROVE DURING 2025
    * ACTION PROGRAM ENTAILS REDUCTION OF NUMBER OF EMPLOYEES BY
ABOUT
30
    * INVENTORY WRITE-DOWN OF ABOUT MSEK 48 OF INVENTORIES WILL
BE
CHARGED TO Q3

Source text for Eikon:  ID:nWkrbMS8Nd 
Further company coverage:  GARO.ST 

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