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BRIEF-Agora's Q4 results to be affected by 7.4 mln zloty reserve
December 13, 2016 / 7:16 AM / a year ago

BRIEF-Agora's Q4 results to be affected by 7.4 mln zloty reserve

Dec 13 (Reuters) - Agora SA :

* Said on Monday that it signed an annex to trilateral agreement regarding employment reduction, dated Oct. 11, between Agora SA, trade unions and Agora’s Council of Employees

* Agreed to sign a letter of intent between the company and trade unions concerning the intention of both sides to work out rules of voluntary redundancies in “Gazeta Wyborcza”, in case there is a need to reduce employment in “Gazeta Wyborcza” in 2017

* In accordance with the annex, the number of people affected by group layoffs will grow to no more than 190 people from about 135

* The total costs related to the reduction of employment have been estimated at c. 7.4 million zlotys ($1.77 million) and will impact the company’s and group’s Q4 financial results

Source text for Eikon:

Further company coverage:

$1 = 4.1810 zlotys Gdynia Newsroom

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