New Hope Corporate Redundancies
New Hope Corporation Limited (ASX: NHC) (Company) advises it has offered
voluntary redundancies to workers in its corporate headquarters.
The Company will undergo a significant restructure with up to 75% of the workforce
at the corporate office to be made redundant by the end of November 2020.
The changes will see a more streamlined management structure with the majority of
executive positions being removed.
The Company’s CEO, Mr Reinhold Schmidt, said “With the ongoing uncertainty
around approvals for New Acland we have had to refocus and put the business in the
best position to go forward. We have had to make some extremely difficult decisions
but, in reality, even if we were granted approvals for Stage 3 today, we are in for a
tough couple of years as we ramp up again.”
courtesy of Bell Direct
i hold NHC ( and SOL , BKI and BKW )
i have a current buy order in to buy more ( but a fair way below the current market price )
will the market see this as a postitive or a negative ( good as cost-cutting or bad with the pessimistic outlook )