Brief: IAR Strengthens Profitability, Removes 25 Headcounts

IAR Systems AB

03/07/2023 08:13

July 3 (Reuters) - IAR Systems Group AB  IARb.ST :
    * IAR STRENGTHENS PROFITABILITY AND INCREASES EFFECTIVENESS
    * PROPOSES REMOVAL OF A TOTAL OF 25 HEADCOUNTS, INCLUDING CONSULTANTS, WITH NO REHIRING OF
NATURAL
ATTRITION
    * INITIATIVE IS EXPECTED TO RESULT IN ESTIMATED ANNUAL SAVINGS OF APPROXIMATELY SEK 27
MILLION,
WITH FULL EFFECT BY END OF Q3 2023
    * RESTRUCTURING COSTS, MAINLY RELATING TO STAFF REDUCTIONS, ARE ESTIMATED TO BE A MAXIMUM OF
SEK 4
MILLION
    * REMAINING 26 RESOURCES IN DEVELOPMENT TEAM IN CAMBRIDGE WILL BE CLOSELY ALIGNED WITH
UPPSALA
DEVELOPMENT TEAM
    * MOST OF RESTRUCTURING COST WILL IMPACT RESULTS FOR Q3 2023 AS ONE-TIME CHARGE

Source text for Eikon:  ID:nMFNb4s37g 
Further company coverage:  IARb.ST 

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