Brief: Pierce's Efficiency Program Might Affect About 50 Positions

Pierce AB (publ)

17/11/2023 08:10

Nov 17 (Reuters) - Pierce Group AB (publ)  PIERCE.ST :
    * SAID ON THURSDAY IS PLANNING TO INITIATE AN OPERATIONAL
EFFICIENCY PROGRAM TO ADJUST THE STRUCTURE OF THE ORGANIZATION
    * BEGINS CHANGE NEGOTIATIONS
    * WILL START A PROCESS WITH AUTHORITIES AND UNIONS THAT
COULD
AFFECT ABOUT 50 EMPLOYEES
    * AMBITION FOR THE PLANNED OPERATING MODEL IS TO GENERATE
ANNUAL
PROFIT IMPROVEMENT OF ABOUT SEK 25 MILLION, WHICH WILL AFFECT
EARNINGS ALREADY FROM THE FIRST QUARTER OF 2024
    * CORRESPONDING EFFECT ON CASH FLOW WILL BE GENERATED
GRADUALLY
DURING THE FIRST HALF OF 2024
    * ONE-OFF COSTS ARE ESTIMATED TO BE APPROXIMATELY SEK 15
MILLION
IN Q4 2023

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nMFN92s4WF
 Further company coverage:  PIERCE.ST  

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