July 22, 2020 / 6:33 AM / 24 days ago

Melrose Industries eyes job cuts after losses in second quarter

July 22 (Reuters) - Turnaround specialist Melrose Industries signalled on Wednesday it could lay off an unspecified number of employees as the company trims costs to cope with the coronavirus-led downturn, having booked losses in the second quarter.

The company, which expects cost savings of about 100 million pounds ($127.19 million) in 2021, said it was “likely” to make a small adjusted operating profit in the first-half.

$1 = 0.7862 pounds Reporting by Yadarisa Shabong in Bengaluru; Editing by Krishna Chandra Eluri

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