Pitney Bowes To Target Additional Annualized Cost Savings Of $60M-$100M, Balance Sheet, Cash Management Improvements To Expedite Paydown Of High-Cost Debt
Portfolio Pulse from Benzinga Newsdesk
Pitney Bowes aims to achieve additional annualized cost savings of $60M-$100M and improve balance sheet and cash management to expedite the paydown of high-cost debt. The company has retained two consulting firms to assist with these initiatives.
May 22, 2024 | 11:05 am
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Pitney Bowes is targeting $60M-$100M in additional annualized cost savings and aims to reduce its cash needs by $200M to expedite the paydown of high-cost debt. The company has hired two consulting firms to assist with these initiatives.
The announcement of significant cost savings and debt reduction efforts is likely to be viewed positively by investors, potentially leading to a short-term increase in PBI's stock price. The involvement of consulting firms adds credibility to the initiatives.
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