New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For BCO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 17, 2014
12:46 EDTBCOBrink's to restructure Netherlands operations, could cut approximately 600 jobs
The Brink's Company announced its plan to restructure its Netherlands operations in response to a loss of business with Rabobank, its largest customer in that country. Brink's expects to incur a charge of $16M-$22M against Q3 GAAP earnings. The expected charge is related to asset impairments, severance and other costs associated with the expected cessation of service to Rabobank on July 1, 2015. The restructuring plan includes the potential closure of three branches and a workforce reduction of approximately 600 employees. The potential loss of business in the Netherlands was considered prior to the company's July 24 disclosure of its goal to achieve a non-GAAP segment margin rate of 8% by the end of 2016, and the goal remains unchanged.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use