BGSF, Inc. announced the execution of a cost restructuring plan during the fourth quarter of 2024, as part of its ongoing strategic review process. This plan is designed to reduce costs, improve operating performance, and position the organization for profitable growth.
The company estimates that the restructuring will reduce annual compensation and benefit expenses by approximately $5 million. Additionally, BGSF has identified other expense reductions expected to deliver an estimated $2 million to $4 million in savings during 2025.
BGSF also anticipates reducing its expected annual cash capital expenditures by approximately $800,000 during 2025. This reduction will be achieved by shifting development support to its recently acquired near-shore operation, further streamlining its cost structure.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.