The restructuring of the Austrian office furniture manufacturer Bene, introduced at the beginning of the year, has caused considerable declines in turnover and results figures in the first half of the 2013/2014 financial year (31 January). At €82.3m turnover was 18.3% below the previous year's figure. The EBIT dropped to -€13.5m and at -€8.4m the EBITDA was also in the negative zone. The number of employees was reduced by 135 to 1,252 in the first half of the financial year. Within the scope of the current restructuring a further 150 jobs are to be cut in the second half of the year. In addition to a reduction in storage capacities, office and exhibition areas, there are also plans to close down unprofitable sales offices abroad.
Source:
http://www.euwid-wood-products.com/news/furniture/single/Artikel/bene-restructuring-imposes-strain-on-interim-results.html
