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Yellow Pages Limited Announces Actions to Reduce Spending and Cost StructureMONTREAL, Jan. 16, 2018 /CNW Telbec/ - Yellow Pages Limited (TSX: Y) (the "Company") announced today that it has taken a significant step forward in its program to reduce spending to drive improvement in its key operating measure of EBITDA less capital expenditures. The Company will take measures to reduce its workforce by approximately 500 positions, representing close to 18% of its employees on a consolidated basis, with reductions occurring across Canada and in all functions of the business. The Company expects to incur a restructuring charge of roughly $17 million associated with these actions in the first quarter of fiscal 2018. "Decisions that materially impact our employees are difficult but absolutely critical to securing the near-term health of the business while we build a great company that provides excellent opportunities in the future," said David A. Eckert, Chief Executive Officer. Eckert continued, "Today's actions are one element resulting from a comprehensive review of our operating and capital spending,aimed at creating a strong financial basis for stability and growth. We are continuing to make focused investments for profitable future growth." About Yellow Pages Limited
SOURCE Yellow Pages Limited 
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