While no one should be happy about people losing their jobs, it is essential to run a business in the most efficient manner possible on a on going basis. Thus allowing the business to thrive and ultimately employing people on a sustainable basis going forward.
Having said that, I hope this tough decision and effort to live within their means extends right throughout the company to the very top of the tree.
Most share holders so far have had no reward for their investment in this company, unfortunately on paper at least anyway. To say that the executive management is overdue to put some runs on the board is a understatement and if they can't then perhaps it should be 19 of them going instead of those at the coal face!
UML Price at posting:
5.9¢ Sentiment: None Disclosure: Held
