Reuters logo
a month ago
BRIEF-Synchronoss Technologies commences management streamlining and realignment plan
June 20, 2017 / 9:41 PM / a month ago

BRIEF-Synchronoss Technologies commences management streamlining and realignment plan

1 Min Read

June 20 (Reuters) - Synchronoss Technologies Inc-

* On June 14, co commenced a management streamlining and realignment plan - sec filing

* Synchronoss Technologies Inc - estimates that it will recognize a pre-tax charge of approximately $22 million to $25 million

* Anticipates that majority of pre-tax charge will be recognized in q2 of 2017

* Synchronoss Technologies Inc - primary components of plan involve reducing layers of management, where appropriate

* Synchronoss - plan, together with management changes previously announced, expected to realize about $70 million of annualized pre-tax expense savings

* Cash expenditures in connection with pre-tax charge will be substantially paid out by q3 of 2017

* Synchronoss - expected savings in addition to about $20 million of annualized pre-tax expense synergies from staff reductions related to intralinks deal Source text: (bit.ly/2sNAQuL) Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below