Brief: Dmc Global Reduces Workforce By Approximately One Third

Dmc Global

01/04/2020 21:15

April 1 (Reuters) - DMC Global Inc  BOOM.O :
    * DMC GLOBAL REDUCES WORKFORCE BY APPROXIMATELY ONE THIRD TO
ADDRESS ECONOMIC DOWNTURN AND CONTRACTION OF CORE MARKET
    * DMC GLOBAL INC - REPORTED IT HAS REDUCED ITS WORKFORCE BY
264
POSITIONS, 97 OF WHICH WERE TEMPORARY WORKERS
    * DMC GLOBAL INC - EXPECTS TO INCUR RELATED CASH SEVERANCE
COSTS
OF APPROXIMATELY $820,000 DURING Q1
    * DMC GLOBAL - DECLINE IN ENERGY DEMAND RESULTED IN SUDDEN
SLOWDOWN IN WELL-COMPLETION ACTIVITY, REDUCING ORDERS FOR
DYNAENERGETICS' WELL PERFORATING SYSTEMS
    * DMC GLOBAL - REDUCTION PRINCIPALLY IMPACTED FULL-TIME,
PART-TIME, TEMPORARY DIRECT-LABOR ROLES IN MANUFACTURING, 
ASSEMBLY AT DYNAENERGETICS, CO'S OILFIELD PRODUCTS UNIT

Source text for Eikon:  ID:nGNX7KW0Z0 
Further company coverage:  BOOM.O 

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