11th Oct 2021 19:45
(Alliance News) - Equiniti Group PLC suitor Siris Capital Group LLC on Monday flagged the possibility of job cuts at the financial administration outsourcer, which it said could benefit from annual cost savings worth GBP45 million.
New York-based technology-focused private equity firm Siris has been reviewing the state of the Equiniti business.
Siris noted the possibility of a "simplification" of Equiniti's organisation structure, as well as "unlocking operational efficiencies of an estimated GBP45 million" per year.
Siris said further work is necessary to finalise plans, but warned it could result in "changes to headcount and/or operations" at Equiniti.
In May, Equiniti had agreed to be taken over by Siris in a deal worth GBP673 million.
By Eric Cunha; [email protected]
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