Brief: Kindred Group Announces North America Exit

Kindred

29/11/2023 08:06

Nov 29 (Reuters) - Kindred Group PLC  KINDsdb.ST :
    * KINDRED GROUP ANNOUNCES NORTH AMERICA EXIT AND ACTIONS TO
ACCELERATE PROFITABLE GROWTH
    * EXPECTATIONS TO HAVE FULLY EXITED OPERATIONS IN MARKET BY
END OF
Q2 2024, SUBJECT TO REGULATORY PROCESS
    * COST REDUCTION INITIATIVES ARE EXPECTED TO RESULT IN
ANNUALISED
GROSS COST SAVINGS (OPEX AND CAPEX) OF APPROXIMATELY GBP 40
MILLION.
    * THIS WILL INCLUDE A REDUCTION OF OVER 300 EMPLOYEES
(INCLUDING
EMPLOYEES IN NORTH AMERICA) AND CONSULTANTS DURING 2024
    * DEDICATED COST REDUCTION INITIATIVES, WHICH INCLUDES A
REDUCTION
OF OVER 300 EMPLOYEES AND CONSULTANTS DURING 2024
    * INITIATIVES ARE EXPECTED TO RESULT IN ANNUALISED GROSS
COST
SAVINGS OF APPROXIMATELY GBP 40 MILLION.
    * EXPECTATIONS TO HAVE FULLY EXITED OPERATIONS BY END OF Q2
2024

Source text for Eikon:  ID:nWkr7JP1jP 
Further company coverage:  KINDsdb.ST 

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