Brief: Supremex Headcount Cuts To Result In Annual Cost Reductions Of About $2.7 Mln

Supremex

07/12/2018 13:22

Dec 7 (Reuters) - Supremex Inc  SXP.TO :
    * SUPREMEX ANNOUNCES PLAN TO OPTIMIZE COSTS AT ITS ENVELOPE
PLATFORM TO FURTHER SUPPORT DIVERSIFICATION INTO PACKAGING
    * SUPREMEX INC - SUPREMEX IS REDUCING ITS CANADIAN ENVELOPE
FACILITIES HEADCOUNT BY A TOTAL OF 41 EMPLOYEES
    * SUPREMEX INC - MEASURES WILL RESULT IN ANNUAL COST
REDUCTIONS OF
APPROXIMATELY $2.7 MILLION
    * SUPREMEX INC - ONE-TIME CHARGE OF APPROXIMATELY $1.4
MILLION,
BEFORE TAXES, WILL BE RECORDED IN COMPANY'S 2018 Q4 RESULTS
    * SUPREMEX INC - PLAN TO REDUCE OPERATING EXPENSES AT ITS
CANADIAN
ENVELOPE OPERATIONS
    * SUPREMEX INC - HAVE TRANSITIONED EMPLOYEES TO PACKAGING
BUSINESS
& WORKED WITH THEM ON EARLY RETIREMENT POSSIBILITIES

Source text for Eikon:  ID:nCNWy0S9na 
Further company coverage:  SXP.TO 

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