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.
In pre-market trading Monday, Brightpoint shares were at $7.60, up 6.89% from Friday’s close.
For access to the full article, you must be a registered member - it's FREE.
Already a member? Please log in below
Not Registered?
Register today and enjoy all that SmallCapInvestor.com has to offer, including:
- Daily small cap stock profiles.
- Intra-day coverage of Russell 2000 companies.
- Research and insights from our analysts.
- Special reports.
