Bang & Olufsen has announced plans to reorganise its AV business in order to “reduce complexity and increase flexibility”.
The restructuring will result in a reduction of approximately 125 staff, the majority of which will be in the company’s AV segment, saving the firm an estimated DKK100 million ($14.3 million) a year. Bang & Olufsen said that there will be non-recurring costs of DKK15-20 million ($2.1-2.8 million) in Q4 of the 2014/2015 financial year related to the restructuring.
The company has reviewed its third quarter results and says it expects to record turnover in Q3 of DKK800 million ($114.5 million), 19% higher than Q3 of last year.
