May 14, 2020 / 5:24 AM / 3 months ago

BRIEF-Straumann Plans 9% Reduction In Workforce

May 14 (Reuters) - STRAUMANN HOLDING AG:

* HAS BEEN GEARED FOR CONTINUING STRONG GROWTH AND ITS WORKFORCE HAS DOUBLED IN PAST THREE YEARS TO 7680

* PLANS A 9% REDUCTION IN ITS GLOBAL WORKFORCE THIS YEAR ACROSS COUNTRIES AND FUNCTIONS

* BUSINESS FUNDAMENTALS REMAIN VALID; RESIZING WILL NOT COMPROMISE COMPANY'S ABILITY TO INNOVATE, MANUFACTURE, SUPPLY AND SELL WINNING

* BUSINESS FUNDAMENTALS REMAIN VALID; RESIZING WILL NOT COMPROMISE COMPANY'S ABILITY TO INNOVATE, MANUFACTURE, SUPPLY AND SELL WINNING SOLUTIONS (ADDS DROPPED WORD)

* PLANS TO REDUCE ITS GLOBAL WORKFORCE BY APPROXIMATELY 660 JOBS THIS YEAR

* PLANNED JOB REDUCTION IS ACROSS ALL COUNTRIES AND FUNCTIONS

* STRAUMANN HOLDING AG - IN BASEL, WHERE COMPANY CURRENTLY EMPLOYS 595 PEOPLE AT ITS HEADQUARTERS, APPROXIMATELY 60 JOBS COULD BE AFFECTED

* EXPECTS TO ACHIEVE HIGH DOUBLE-DIGIT MILLION SAVINGS IN 2020 - INCLUDING PERSONNEL REDUCTIONS AND RESTRUCTURING COSTS OF APPROXIMATELY CHF 15 MILLION

* IN 2021, EXPECTED SAVINGS FROM PERSONNEL REDUCTIONS WILL BE APPROXIMATELY CHF 30 MILLION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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