#Kuwait’s Agility Seeks $150 Million Cost Saving to Tackle Virus - Bloomberg

Kuwait’s Agility Seeks $150 Million Cost Saving to Tackle Virus - Bloomberg:

Agility Public Warehousing Co. is seeking to save more than $150 million as the Kuwait-based logistics company tackles the fallout of the coronavirus pandemic.

The firm put in place measures “including reduction in spend, personnel measures, and other steps to adjust costs in various business lines to realities on the ground,” Chief Executive Officer Tarek Sultan said in an interview. Agility “made the right sizing and any changes that are needed to make our businesses consistent and relevant to the current world that we’re in.”

Although there have been job losses, it would be “illogical” for Agility to restrict hiring, particularly as some of its businesses are growing and others may come back online quickly, Sultan said. “We would be looking to grow those businesses and maybe leverage the opportunity that Covid presents by being able to attract even better people.”