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Ann: Market Update CEO Announcement and General Law Review, page-67

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jimk3758

23,965 Posts.

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12/02/18

18:36

Post #: 31002922
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Originally posted by tim8wilson ↑

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.

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True for the investor cutting staff can be a good thing but they are cutting massively only because of poor performance. We all knew SGH UK was bleeding but is Australia's largest law firm bleeding and shortly to become a mid size or even small player?

I would at least wait the two weeks more to know if SGH is bleeding cash or making money.

SGH Price at posting: $2.66 Sentiment: Sell Disclosure: Not Held
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