Jervois Global Limited (AU:JRV) has released an update.
Jervois Global Limited is undertaking a significant restructure in response to the challenging cobalt market, cutting senior management roles by 30%, reducing Non-Executive Director fees, and freezing salary increases for 2024. The company has achieved a 5% workforce reduction in its Finland operations, realizing annual payroll savings while maintaining production and safety standards. Amidst these changes, Greg Young, Executive General Manager – Commercial, retires, passing the baton to promoted successor Wayde Yeoman.
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