Scansource initiates $30 mln expense reduction plan

Scansource initiates $30 million expense reduction plan.scansource inc - expense reduction plan includes 10% to 25% salary reductions for executive team through dec 31, 2020.scansource - expense reduction plan includes elimination of cash retainers for board of directors through dec 31, 2020.scansource inc - expense reduction plan includes reduction in workforce in north america, excluding intelisys business.scansource inc - expects q4 fiscal year 2020 gaap net sales to be approximately $758 million.scansource inc - expense reduction plan includes wind-down of canpango professional services business.scansource - expects to complete substantially all of workforce reduction of about 200 positions by end of september 2020 quarter.scansource inc - expects q4 fiscal year 2020 non-gaap net sales excluding planned divestitures to be approximately $636 million.scansource inc - expense reduction actions are expected to reduce co's annualized sg&a cost base by about $30 million.scansource - due to winding down canpango business, co expects to record a pre-tax non-cash charge of about $2 million as of june 30.scansource inc - for intelisys business, q4 fiscal year 2020 net sales increased about 15% year-over-year.
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