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BRIEF-KCG Holdings commences a plan to exit its business in Asia

June 2 Kcg Holdings Inc

* ‍on May 18 commenced a plan to exit its business in Asia through a shutdown of operations of its wholly-owned subsidiary​

* Total charges related to these activities are expected to be approximately $18 million to $20 million, on a pre-tax basis

* ‍To commence a workforce reduction plan, in order to reduce KCG's expenses and operational complexity​

* ‍workforce reduction plan impacts approximately 12 pct of KCG's workforce​

* Estimates that it will recognize a pre-tax charge in connection with workforce reduction of approximately $10 million during Q2 of 2017

* ‍Cash expenditures are expected to be approximately $12 to $14 million - SEC filing​

* Majority of total charges related to the activities will be recognized in Q2 of 2017 with balance expected to be recognized later in year

* ‍Exit from KCG's Asian and Australian operations is expected to be completed by Q4 of 2017​

* KCG says ‍total charges on shutdown of KCG Asia Pacific and other operations in Asia and Australia, co's exit of forex market making business expected to be about $8-$10 million

* ‍Majority of charges will be recognized in Q2 of 2017 with balance expected to be recognized later in year​ Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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