November 23, 2016 / 7:20 AM / 19 days ago

BRIEF-AAP Says Co Plans To Reduce Its Workforce By Around 25% In Current Financial Year

March 16 (Reuters) - Aap Implantate AG:

* DGAP-ADHOC: AAP IMPLANTATE AG RESOLVES ON CONCEPT FOR EXTENSIVE STAFF REDUCTION AND EXTRAORDINARY VALUE ADJUSTMENT TO CAPITALIZED DEVELOPMENT COSTS; POSTPONEMENT OF PUBLICATION OF THE 2019 FINANCIAL STATEMENTS

* STARTING FROM A HEADCOUNT OF 145 ON FEBRUARY 29, 2020, CO PLANS TO REDUCE ITS WORKFORCE BY AROUND 25% IN CURRENT FINANCIAL YEAR

* AIM OF MEASURE IS TO SAVE MORE THAN EUR 1.3 MILLION ANNUALLY IN PERSONNEL COSTS FROM 2021

* EXPECTS ONE-OFF EXPENSES OF UP TO EUR 0.7 MILLION, WHICH WILL HAVE A NEGATIVE IMPACT ON EARNINGS IN FINANCIAL YEAR 2020

* MANAGEMENT BOARD IS CURRENTLY EVALUATING VARIOUS STRATEGIC ALTERNATIVES FOR INCREASING VALUE Source text for Eikon: Further company coverage:

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