Cost Savings InitiativesIn the third quarter of 2012, the Company initiated a plan to reorganize its operations resulting in certain organizational changes in its Canadian and EMEA locations. The plan consists of workforce reorganization and elimination of redundant or unneeded positions allowing the Company to combine business operations in certain geographic locations with the purpose of serving its clients more efficiently. In connection with this reorganization, CTPartners anticipates incurring severance and other employee-related costs in the range of $1.0 million to $1.2 million, or approximately $0.07, of which $700,000 is expected to be cash expenditures. The total charge will be recorded in the third quarter of 2012. The Company expects that these cost savings will result in annualized savings of $1.5 million.
CTPartners Executive Search Inc. Announces Second Quarter And Six-Month 2012 Financial Results
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