GreenFirst Forest Products Inc. (TSE:GFP) has released an update.
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GreenFirst Forest Products Inc. has outlined a strategic plan to improve cost-efficiency, targeting an approximate $8 million reduction in annual SG&A and overhead expenses, equating to a 15% cut in overhead personnel and 30% in SG&A costs. These savings are expected to be fully realized in the latter half of 2024, reflecting the company’s ongoing commitment to enhance shareholder value and maintain operational excellence without compromising safety or quality. In line with these efforts, GreenFirst is also streamlining its Board of Directors as part of its focus on efficient, sustainable operations within its Ontario forestry and lumber production business.
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