PI 400 -- Financial Printing - It's Been a Bear of a Year

"We knew that we would have to take definitive action to position ourselves for profitable future growth and ongoing development of new opportunities," he reports.

Nicknamed the "A-List", the action plan included acting, aligning and adapting to the new conditions in order to achieve success. It acted by reducing costs, minimizing discretionary spending and improving operational cost-efficiencies—including work force reductions.