GPG focuses on cost cutting as restructuring plan is delayed by UK pensions regulator

Tue, 27 Aug 2013

By Tina Morrison Aug. 28 (BusinessDesk) - Guinness Peat Group is focussing on cutting costs as an investigation by the UK pensions regulator delays its plan to wind up most of its investments and focus on threadmaker Coats. GPG will cut board fees starting on Oct. 1 to reflect that it is now a simpler company, holding board meetings by conference call to reduce travel and other costs, close its last Australian office by November and its principal London office by the end of the year and cut permanent staff to eight from 15 in the year to Dece...

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