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Technicolor to further lower costs after Q1 impacted by supply disruptions

Friday 8 May 2020 | 10:41 CET | News
Technicolor reported lower results for the first quarter, but said revenue declines were in line with expectations and that it is on track to achieve the EUR 100 million in run-rate savings by year-end. Under the strategic plan announced in February, the company said it has identified an additional EUR 75 million worth of cost reductions. About 70 percent of the targeted headcount reduction was completed by end March. The company is now working on updating the strategic plan in order to reflect the changes in the macro and business environment.

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Categories: Broadcast & Satellite / Internet
Companies: Technicolor
Countries: World
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