By Stephen Nakrosis
BGSF said it has undertaken a cost-restructuring plan in the fourth quarter as part of its strategic-review process.
The restructuring plan was implemented to cut costs, improve operating performance, and position the organization for profitable growth, the company said.
The plan is expected to reduce annual compensation and benefit expenses by about $5 million, the company said.
BGSF said it identified additional expense reductions that could save it between $2 million and $4 million next year. The company also said it expects to reduce annual cash capital expenditures by about $800,000 next year by shifting development support to a recently acquired near-shore operation.
Last month, the company reported a third-quarter loss per share of 7 cents on revenue of $71.2 million. In the year-ago period, the company reported earnings of 24 cents a share on revenue of $83.4 million.
BGSF provides consulting, managed services and professional workforce solutions.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 23, 2024 16:45 ET (21:45 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。