This reduction in labour saves $4m a year, $1m a quarter. Relatively speaking that's peanuts in terms of overall costs and within the industry is nothing. Salaries, although they might seem high, aren't going to make or break the companies cash reserves. Other cutbacks are where it's at. This move, in my view was less about money and more about restructuring.
LNG Price at posting:
61.5¢ Sentiment: Buy Disclosure: Held
