Business Services Industry
ASX targets jobs to cut costs.
Australasian Business Intelligence, May, 2005
May 25, 2005 (Herald Sun - ABIX via COMTEX)
A cost control drive at the Australian Stock Exchange (ASX) will result in the loss of 45- 55 jobs. The ASX has advised that the job cuts will occur before the end of the 2004-05 financial year, as it seeks cost savings of $A15m to $A20m by 2008. One-off expenses of around $A8m will result from the redundancies, while the ASX will write down its investment in ASX World Link by some $A7.3m. ASX shares fell by $A0.38 after the announcement on 25 May 2005, closing at $A21.72.
Publication Date: 26 May 2005
AUSTRALIAN STOCK EXCHANGE LIMITED - ASX ASX:
TOLHURST NOALL LIMITED:
TOLHURST NOALL GROUP LIMITED - ASX TNL
By Liam Walsh and Sarah Jones
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