Affichage Holding takes cost-cutting measures
The economic crisis has had an impact on Affichage Holding S.A.'s first-quarter figures. The group reported a 16.6 percent decline in revenue. Cost-cutting measures are now being considered once again.
The economic crisis made itself felt in the figures of Affichage Holding S.A. in the first quarter. The Group recorded a 16.6 percent drop in sales. While January was still satisfactory, the global economic crisis also made itself clearly felt at the outdoor advertising company in the following months. Cost-cutting measures are now being examined again and will be implemented if the recession persists, as the company writes in a press release on Monday.
Far-reaching cost-cutting measures were taken at the beginning of the year. Among other things, a hiring freeze was imposed, natural fluctuation was used, projects were canceled and investments were reduced. At the same time, short-time working was introduced at the APG subsidiary. The Board of Directors reduced the bonuses for itself and the management by 50 percent.
Far-reaching cost-cutting measures were taken at the beginning of the year. Among other things, a hiring freeze was imposed, natural fluctuation was used, projects were canceled and investments were reduced. At the same time, short-time working was introduced at the APG subsidiary. The Board of Directors reduced the bonuses for itself and the management by 50 percent.
