Yes I did see news of that (will also read your sourced article later on), and obviously I'm empathetic to the staff impacted, but from the perspective of a shareholder this is not a completely negative thing under the circumstances. The KPMG report would also presumably have factored the likelihood of redundancies and associated cost cutting. (I haven't read it closely enough to confirm this but would imagine they would be somewhat cagey in the doc on this subject due to it's sensitivity). The question would be how ruthless will the cuts amount to and will they cut away muscle as well as fat. Bearing in mind that there's been flight of top talent already.
SGH Price at posting:
$2.66 Sentiment: None Disclosure: Not Held
