Mr. Pagano continued, "Our right sizing initiative to reduce costs will result in an annualized savings of approximately $3.0 million. During the quarter, we streamlined several departments, such as business development, project controls and procurement, and removed Construction as a reporting business segment. We believe our construction management expertise can best serve our clients as a support function to enhance productivity across all operations of the Company.""I am particularly excited about our strategic plan, which was completed last week by our Executive Team. Our core plan involves five separate and equally important strategies -- (1) People; (2) Market Development; (3) Project Execution; (4) Business Management; and (5) Culture -- and will be launched internally early next month. Once implemented, we will evaluate our results-based plan with quarterly accountability measurements."
ENGlobal Reports Third Quarter Results
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