Brightpoint to restructure European operations

Brightpoint, Inc. (Nasdaq:CELL) announced Monday it would reconfigure its European operations and cut staff by 275 to 325 positions. This is part of the Plainfield, Ind.-based wireless device distributor’s plan to reduce expenses and streamline its international business, the company said. The company anticipates these cuts will save between $25 million and $30 million annually. In addition, Brightpoint’s President of Europe Steen Pederson will leave his post as of Nov. 19 of this year.

In pre-market trading Monday, Brightpoint shares were at $7.60, up 6.89% from Friday’s close.

For detailed price information and recent news stories on Brightpoint, Inc., click CELL.

---