BGSF “announces, as part of its strategic review process, that it has executed a cost restructuring plan during the fourth quarter. The Company recently implemented a significant restructuring plan designed to reduce costs, improve operating performance, and position the organization for profitable growth. The Company estimates that this plan will reduce annual compensation and benefit expenses by approximately $5 million. The Company has also identified other expense reductions that it plans to execute in 2025 that the Company expects will deliver an estimated $2 million to $4 million in savings during 2025. In addition to expense savings, the Company anticipates reducing its expected annual cash capital expenditures by approximately $800,000 during 2025 by shifting development support to its recently acquired near-shore operation.”
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BGSF:
- BG Staffing price target lowered to $12 from $13 at Roth MKM
- BGSF Inc. Reports Q3 2024 Financial Results
- BGSF Highlights Importance of Regulation FD Disclosure
- BG Staffing reports Q3 EPS 10c, one estimate 11c
- BGSF Earnings Report this Week: Is It a Buy, Ahead of Earnings?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
