Vtech 2001 Annual Report Download - page 10

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Please find page 10 of the 2001 Vtech annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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8
of
Operations
VTech
Consumer
Telephone
Products
Electronic
Learning
Products
Contract
Manufacturing
Services
8
Restructuring of Operations
In the final quarter of the financial year 2001, VTech launched a detailed
seven-point restructuring plan to reduce costs, raise efficiency and increase
both the focus of the Group’s worldwide operations and synergies among
them. Through the restructuring, VTech has streamlined its workforce by
approximately 16.0% worldwide and will reduce operating costs by
approximately US$30.0 million annually. We will also increase our emphasis
on higher margin products.
The wide-reaching changes will be completed by the end of the calendar
year 2001.
Review
Review of Operations
Other
Businesses
VTech’s Businesses