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BRIEF-The Bancorp implements cost reduction plan

Sept 15 Bancorp Inc :

* The Bancorp implements cost reduction plan to reduce expenses and improve efficiencies

* Bancorp Inc says first phase involves workforce reduction

* Board-Approved cost reduction plan designed to streamline its businesses and corporate functions and better position organization for future

* First phase of plan entailed a company-wide workforce reduction

* Second phase of plan will entail a close examination. Identification of potential cost saving opportunities within co's supply chain network

* Co can substantially lower our operating run rate by 20 pct to 25 pct without significantly affecting revenue

* Second phase will entail close examination and identification of potential cost saving opportunities within company's supply chain network Source text for Eikon: Further company coverage:

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