between digital TV and the Internet, special emphasis will be placed on developing new technologies integrating connected networks. Additionally, by creating a Cybersecurity unit, the Kudelski Group addresses the demand for security and data protection in the Internet sphere. As of January 1st, 2012, the Executive Management of the Group will be simplified and reduced to four members in order to better address challenges of the future.
The Nagra Audio activity will be taken over by the Kudelski family through a spin-off which will become effective as from the beginning of 2012. As a consequence of the new strategy, the Group will launch a cost reduction program involving a workforce reduction of some 270 positions and targeting net savings of CHF 90 million per year, which will become fully effective from the second half of 2012.
The objective of the Group is to be able to face the economic crisis impacting several regions where it operates as well as the strengthening of the Swiss franc, and to address the changing needs of the new television and Internet markets. The Group has initiated this strategic review in the context of a global and sustainable evolution of content distribution technologies and a new balance between developed and emerging economies in the world.
As a consequence of the new strategy, the Group has planned measures leading to a net annual cost reduction of CHF 90 million. The initial effects will show in late 2011 and the cost reductions will become fully effective in the course of the second half of 2012. The various entities of the Group will implement the restructuring measures in compliance with local legal and consultation procedures. A workforce reduction of some 270 positions is expected, out of the Group
The Nagra Audio activity will be taken over by the Kudelski family through a spin-off which will become effective as from the beginning of 2012. As a consequence of the new strategy, the Group will launch a cost reduction program involving a workforce reduction of some 270 positions and targeting net savings of CHF 90 million per year, which will become fully effective from the second half of 2012.
The objective of the Group is to be able to face the economic crisis impacting several regions where it operates as well as the strengthening of the Swiss franc, and to address the changing needs of the new television and Internet markets. The Group has initiated this strategic review in the context of a global and sustainable evolution of content distribution technologies and a new balance between developed and emerging economies in the world.
As a consequence of the new strategy, the Group has planned measures leading to a net annual cost reduction of CHF 90 million. The initial effects will show in late 2011 and the cost reductions will become fully effective in the course of the second half of 2012. The various entities of the Group will implement the restructuring measures in compliance with local legal and consultation procedures. A workforce reduction of some 270 positions is expected, out of the Group