June 24, 2020 / 7:12 AM / 21 days ago

BRIEF-Bjorn Borg To Cut Jobs

June 24 (Reuters) - Bjorn Borg AB:

* FURTHER UPDATE ON THE IMPACT OF THE CORONA VIRUS ON THE BJÖRN BORG GROUP

* PLANS TO REDUCE NUMBER OF EMPLOYEES WITH APPROXIMATELY 19. PERSONS AT HEADQUARTERS IN STOCKHOLM DURING 2020

* ESTIMATED ANNUAL SAVINGS FROM PLANNED STAFF REDUCTION IS APPROXIMATELY SEK 20 MILLION

* DESPITE STRAINED SITUATION, BJÖRN BORG’S LIQUIDITY REMAINS SATISFACTORY

* COMPANY HOWEVER ESTIMATES THAT LIQUIDITY WILL REMAIN SATISFACTORY DURING REST OF 2020 AS A RESULT OF MEASURES COMPANY HAS TAKEN AND WILL TAKE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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