Brief: Radius Recycling Inc Says Cost Reduction Target Increased

Radius Recycling

14/03/2024 20:42

March 14 (Reuters) - Radius Recycling Inc  RDUS.O :
    * RADIUS RECYCLING INC - COST REDUCTION TARGET INCREASED
    * RADIUS RECYCLING - IN Q2 CO IMPLEMENTED PLAN TO REDUCE
SELLING,
GENERAL AND ADMINISTRATIVE EXPENSE BY 10%
    * RADIUS RECYCLING - NEW MEASURES INCLUDE REDUCTIONS IN
HEADCOUNT
AND OTHER EMPLOYEE-RELATED EXPENSES
    * RADIUS RECYCLING - NEW MEASURES INCLUDE DECREASES IN
NON-TRADE
PROCUREMENT SPEND, TRANSPORTATION AND LOGISTICS, AND OTHER
OUTSIDE SERVICES
    * RADIUS RECYCLING-ABOUT HALF OF TARGETED QTRLY RUN-RATE
BENEFITS
FROM INITIATIVES TO BE ACHIEVED IN Q3,WITH SUBSTANTIALLY ALL OF
REMAINDER BY END OF YEAR
    * RADIUS RECYCLING - EXPECTS TO INCUR RELATED RESTRUCTURING
CHARGES AND OTHER EXIT-RELATED COSTS IN THE RANGE OF $6 MILLION

Source text for Eikon:  ID:n0001171843-24-001353 
Further company coverage:  RDUS.O 

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