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Synergon in major restructuring push – Napi Gazdaság

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Hungarian IT company Synergon is to carry out a major restructuring involving lay-offs by the end of this year in order to focus on profitable operations; recently appointed CEO Zoltán Jutasi hopes to see savings of HUF 1bn and profits next year, business daily Napi Gazdaság said on Thursday.

In an interview with the paper, Jutasi said the plan is to divest or outsource operations and projects that do not yield profits.

The group is to have revenue exceeding HUF 20bn this year, and fixed costs are expected to be cut by almost HUF 1bn annually. The CEO would not provide specific numbers for the planned lay-offs, but indicated that "the review of costs entailed by the restructuring is far from over with that".

Jutasi said the company will definitely not have losses in 2012. Synergon will try to compensate by expanding in the private sector and abroad for the decline in public sector orders.

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