Brief: Transact Technologies Provides Covid-19 Related Business Update

TransAct Technologies

24/03/2020 22:33

TransAct Technologies Inc  TACT.O :
    * TRANSACT TECHNOLOGIES PROVIDES COVID-19 RELATED BUSINESS
UPDATE
    * TRANSACT TECHNOLOGIES - POSTPONED ANY FURTHER INCREASES IN
SPENDING AND IMPLEMENTED NUMBER OF COST REDUCTION INITIATIVES
    * TRANSACT TECHNOLOGIES - EXPECT ACTIONS TAKING TO REDUCE
OVERHEAD, OPERATING EXPENSES BY ABOUT $1.75 MILLION FROM
ESTIMATED Q1 2020 RUN-RATE
    * TRANSACT TECHNOLOGIES -COST REDUCTION INITIATIVES INCLUDE
10%
ACROSS BOARD SALARY REDUCTION FOR ALL SALARIED, NON-COMMISSIONED
EMPLOYEES
    * TRANSACT TECHNOLOGIES -COST REDUCTION INITIATIVES INCLUDE
FURLOUGHING ABOUT 10% OF WORKFORCE

Source text for Eikon:  ID:nBw8RMr75a 
Further company coverage:  TACT.O