date:Jul 02, 2014
nths and is moving quickly to attack these stranded costs while working to further expand margins. Savings are expected to come from a combination of operational initiatives and headcount reductions.
The company said annualized cost reductions are anticipated to be in the range of $22 million to $25 million, 125 to 150 basis points, and will be realized progressively over the next 12 months starting in the third quarter.
This is a major initiative for the company to ensure its cost base is ma