Distributor Hills Limited has revealed it had let go 39 of its staff following a restructuring of its IT distribution business earlier this year.
Addressing shareholders, managing director David Lenz said the restructure occured in June and prompted by the COVID-19 pandemic.
He said the restructure aimed to prepare Hills for the post-COVID trading environment and placed greater focus on state-based profitability and ownership. The restructure cost the company $1.2 million, but had projected annualised savings of $3.9 million following the job cuts.
Lenz also revealed how Hills distribution business was affected by COVID-19, reporting a significant number of project cancellations and delays. Its SMB business servicing division had a rela…
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