Quickstep Holdings Limited (AU:QHL) has released an update.
Quickstep Holdings Limited is set to restructure its Structures Business Unit due to a reduction in customer demand for F35 components, transitioning from 3 shifts 6 days a week to 2 shifts 5 days a week, which is expected to save about $5 million annually. The company plans to streamline its operations and corporate support functions, leading to a 20% reduction in direct production headcount and a similar reduction in operational support headcount, as well as a 35% reduction in corporate support teams. Despite these changes, Quickstep’s Engineering Development and Quickstep Services Business Units remain unaffected and continue to focus on growth and market progress.
For further insights into AU:QHL stock, check out TipRanks’ Stock Analysis page.
