UK reseller Morse will take a one-off charge of up to £4.5m to slash costs this year, it told the stock market today. Executive chairman Kevin Loosemore said further details of the cuts, which will begin immediately, will be revealed with the firm's preliminary results on 9 September. The cuts follow the departure of CEO Kevin Alcock early this month. A restructuring programme was launched to improve margins. ®

Related stories

• Morse sales and profits sink in economic storm (9 September 2009)
• Morse expects second half revenue dip (9 July 2009)
• Morse signals tough times (24 April 2009)
• Morse taps new boss, new structure (11 February 2009)
• Morse sells loss-making consultancy (10 February 2009)
• Morse suffers blip amid economic turbulence (9 September 2008)
• Morse loses CEO, warns on revenues (8 July 2008)
• Morse shrugs off market uncertainty (13 February 2008)
• Morse signals stability in current year (30 October 2007)
• Morse sees revenue slide (4 September 2007)
• Morse splits to AIM high (8 June 2007)
• Morse changes on track (9 November 2006)
• Morse boardroom shuffle detailed (28 September 2006)