BGSF Implements Restructuring Plan to Cut Expenses by $5 Million-February 2024-www.financetom.com

BGSF Implements Restructuring Plan to Cut Expenses by $5 Million

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BGSF Implements Restructuring Plan to Cut Expenses by $5 Million

Dec 23, 2024 1:42 PM

04:21 PM EST, 12/23/2024 (MT Newswires) -- BGSF ( BGSF ) said late Monday that it implemented a restructuring plan in Q4 that will reduce annual compensation and benefit expenses by about $5 million.

The company said it plans to implement more expense reductions in 2025 that are expected to result in savings of $2 million to $4 million.

Annual cash expenses will be reduced by about $800,000 in 2025 by moving development support to a near-shore operation, the company added.

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