Brief: Sinch Says Some 150 Employees In Scope Of Job Cuts

Sinch AB (publ)

14/10/2022 06:05

Oct 14 (Reuters) - Sinch AB (publ)  SINCH.ST :
    * REG-SINCH PROVIDES FURTHER DETAILS ABOUT ITS COST
REDUCTION
PROGRAM
    * GAINS FROM PROGRAM WILL BE REALIZED GRADUALLY
    * A THIRD OF SAVINGS ARE EXPECTED TO BE ACHIEVED FROM Q1
2023 AND
FULL EFFECT OF PROGRAM IS EXPECTED TO BE REALIZED FROM Q3 2023.
    * SAVINGS WILL BE ACHIEVED THROUGH A COMBINATION OF REDUCED
CONSULTANCY COSTS, LOWERED NON-PERSONNEL RELATED EXPENSES AS
WELL AS STAFF REDUCTIONS.
    * STAFF REDUCTIONS WILL MATERIALIZE BOTH THROUGH NATURAL
ATTRITION
AND THROUGH NOTICES OF EMPLOYMENT TERMINATION IN SEVERAL
GEOGRAPHICAL LOCATIONS.
    * ALL IN ALL, SOME 150 PEOPLE ARE GIVEN NOTICE.
    * TOTAL RESTRUCTURING COSTS, MAINLY RELATING TO STAFF
REDUCTIONS,
ARE ESTIMATED TO AROUND SEK 120 MILLION, MOST OF WHICH WILL
IMPACT RESULTS FOR Q4 AS A ONE-TIME CHARGE

Source text for Eikon:  ID:nGNE69MF4d 
Further company coverage:  SINCH.ST 
 (Gdansk Newsroom)
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