Brief: McCoy Global Says Budgeted 2020 Capital Expenditure For Production And Rental Fleet Reduced By 80%

McCoy Global

20/04/2020 12:09

April 20 (Reuters) - McCoy Global Inc  MCB.TO :
    * MCCOY GLOBAL ANNOUNCES BUSINESS UPDATE
    * MCCOY GLOBAL - IMPLEMENTED EMPLOYEE HEADCOUNT REDUCTIONS
    * MCCOY GLOBAL - IMPLEMENTED SALARY, WAGE CUTS ACROSS ALL
LEVELS
OF ORGANIZATION, INCLUDING BOARD & PRESIDENT & CEO CUTS OF 25%,
20% CUTS FOR OTHER EXECUTIVES
    * MCCOY GLOBAL - BUDGETED 2020 CAPITAL EXPENDITURE FOR
PRODUCTION
AND RENTAL FLEET REDUCED BY 80%
    * MCCOY GLOBAL - BUDGETED 2020 CAPEX ON CORPORATION'S
DIGITAL
TECHNOLOGY ROADMAP REDUCED BY 60%, PRIMARILY RELATED TO EXTERNAL
EXPENDITURES
    * MCCOY GLOBAL - AGGREGATE OF IMPLEMENTED ACTIONS TO DATE
WILL
RESULT IN ESTIMATED ANNUALIZED SAVINGS OF CAD$6.5 MILLION

Source text for Eikon:  ID:nCNW5gDCza 
Further company coverage:  MCB.TO 

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