Brief: Instalco Initiates Cost-Saving Measures Including Job Cuts

Instalco AB

17/12/2024 06:52

Dec 17 (Reuters) - Instalco AB  INSTAL.ST :
    * SAID ON MONDAY IT INITIATES COST-SAVING MEASURES
    * ACTIONS INCLUDE REORGANIZATIONS, REDUCED OVERHEAD COSTS,
LAYOFF
NOTICES, TERMINATIONS
    * MEASURES WILL RESULT IN ONE-OFF COSTS OF AROUND SEK 65
MLN,
WHICH WILL IMPACT EBITDA IN Q4
    * GOODWILL AND OTHER RELATED INTANGIBLE ASSETS WILL BE
WRITTEN
DOWN BY AROUND SEK 25 MLN
    * I AM NOT SATISFIED WITH OUR DEVELOPMENT IN 2024, AND WE
ARE NOW
TAKING STEPS TO PREPARE COMPANY FOR PROFITABLE GROWTH - CEO

        
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