Gedys Internet Products AG

euro adhoc: GEDYS Internet Products AG
Layoffs & Downsizing
Further restructuring at GEDYS (E)

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GEDYS today announces further restructuring measures in order to create further efficiencies in the group. The measures call for the reduction of 28 job positions - some of which are currently unfilled; 16 of these affect GEDYS AG and 12 the international subsidiaries. Savings in 2002 costs arising from this action will amount to around 800k Euros. These savings are additional to those already reflected in the 2002 business plan, totalling around 3 million Euros vis a vis the 2001 actuals. These measures allow GEDYS to make better use of the synergies arising from the consolidation of the international activities and will both lead to improved results as well as strenghening its position in anticipation of the expected market upturn.

end of announcement            euro adhoc 27.03.2002
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Further inquiry note: Sandra Mazannek

Branche:        Software
ISIN:            DE0005273007
WKN:              527300
Börsen:         Baden-Württembergische Wertpapierbörse, Börse
Düsseldorf, Bremer Wertpapierbörse (BWB), Hamburger
Wertpapierbörse, Handelsüberwachung der Berliner Wertpapierbörse,
Niedersächsische Börse zu Hannover, Frankfurter Wertpapierbörse



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