Brief: Lemaitre Vascular Committed To Plan For Reducing Expenses, Including Reduction In Force Of About 13% Of Workforce

LeMaitre Vascular

17/04/2020 22:14

April 17 (Reuters) - LeMaitre Vascular Inc  LMAT.O :
    * LEMAITRE VASCULAR INC - COMMITTED TO A PLAN INTENDED TO
REDUCE
EXPENSES, WHICH INCLUDES A REDUCTION IN FORCE OF ABOUT 13% OF
WORKFORCE
    * LEMAITRE VASCULAR INC - ANTICIPATES THAT IT WILL COMPLETE
IMPLEMENTATION OF PLAN DURING Q2 OF 2020
    * LEMAITRE VASCULAR INC - ESTIMATES THAT IT WILL INCUR TOTAL
EXPENSES RELATING TO EMPLOYMENT TERMINATIONS OF BETWEEN ABOUT
$200,000 AND $400,000
    * LEMAITRE VASCULAR INC - EXPECTS TO RECORD MAJORITY OF THE
CHARGES IN 2020
    * LEMAITRE VASCULAR INC - COMPENSATION COMMITTEE OF BOARD OF
APPROVED STRUCTURED SALARY REDUCTION PROGRAM
    * LEMAITRE VASCULAR INC - SALARY REDUCTIONS ARE EXPECTED TO
BE IN
PLACE UNTIL DECEMBER 31, 2020
    * LEMAITRE VASCULAR - APRIL 15, NON-EMPLOYEE DIRECTORS
SERVING ON
BOARD OF CO AGREED TO RELINQUISH THEIR CASH COMPENSATION UNTIL
DEC 31, 2020

Source text: (https://bit.ly/2xtXihd)
Further company coverage:  LMAT.O 

 ((Reuters.Briefs@thomsonreuters.com;))