Edition:
India

Geospace Technologies Announces Cost Reductions


Friday, 15 Dec 2017 

Dec 14 (Reuters) - Geospace Technologies Corp ::GEOSPACE TECHNOLOGIES ANNOUNCES COST REDUCTIONS.GEOSPACE TECHNOLOGIES CORP - PROGRAM TO REDUCE ITS OPERATING COSTS IN LIGHT OF EXPECTED AND CONTINUING LOW LEVELS OF SEISMIC PRODUCT DEMAND.GEOSPACE TECHNOLOGIES CORP - PROGRAM IS EXPECTED TO PRODUCE APPROXIMATELY $6 MILLION OF ANNUALIZED CASH SAVINGS.GEOSPACE TECHNOLOGIES CORP - MAJORITY OF THE SAVINGS WILL BE REALIZED THROUGH A REDUCTION OF OVER 60 EMPLOYEES FROM COMPANY'S HOUSTON-AREA WORKFORCE.