Brief: Altisource Portfolio Solutions Says Anticipates Reducing 2020 Expenses, Excluding Outside Goods And Services By An Estimated $45 To $50 Mln

Altisource Portfolio Solutions SA

06/04/2020 23:00

April 6 (Reuters) - Altisource Portfolio Solutions SA
 ASPS.O :
    * ALTISOURCE PORTFOLIO SOLUTIONS SA - ANTICIPATES REDUCING
ITS
2020 EXPENSES, EXCLUDING OUTSIDE GOODS AND SERVICES BY AN
ESTIMATED $45 TO $50 MILLION
    * ALTISOURCE PORTFOLIO SOLUTIONS SA - CHAIRMAN AND CEO
AGREED TO
FORGO 40% OF HIS BASE SALARY BEGINNING APRIL 1, 2020 THROUGH
DECEMBER 31, 2020
    * ALTISOURCE PORTFOLIO SOLUTIONS SA - REDUCED CASH
COMPENSATION TO
MEMBERS OF BOARD OF DIRECTORS BY 50% BEGINNING APRIL 1, 2020
THROUGH DEC 31, 2020
    * ALTISOURCE PORTFOLIO SOLUTIONS SA - HAS PLANS TO FURLOUGH
OR
ELIMINATE POSITIONS OF 16% OF WORKFORCE
    * ALTISOURCE PORTFOLIO- WITHDRAWING GUIDANCE WITH RESPECT TO
REVENUE FROM CUSTOMERS OTHER THAN OCWEN FINANCIAL CORP AND NEW
RESIDENTIAL INVESTMENT CORP
    * ALTISOURCE PORTFOLIO  - ANTICIPATES NEGATIVE REVENUE
IMPACT AND
CERTAIN OF COST SAVINGS MEASURES RELATED TO COVID-19 PANDEMIC TO
BE TEMPORARY

Source: https://bit.ly/2yCG6Gh
Further company coverage:  ASPS.O 

 ((Reuters.Briefs@thomsonreuters.com;))