Quickstep Holdings Limited (AU:QHL) has released an update.
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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.
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