Jan 26 (Reuters) - Colabor Group Inc GCL.TO :
* Says announced a plan to rationalize and optimize its operations
* Rationalization measures are expected to result in cost reductions estimated
at more than $6.0 million annually, before taxes
* Says plan will entail the elimination of approximately 120 jobs, or 8% of the
company's headcount
* Savings will be progressively realized during fiscal 2016 and will take full
effect during fiscal 2017
* Says in addition to a reduction of current personnel, some vacant positions
will be eliminated
* Says will record a charge not related to current operations of about $3.0
million, before taxes, in Q1 of fiscal 2016
* Sees FY 2015 adjusted EBITDA of more than $26 million
* Source text for Eikon ID:nMKWFpf6Pa
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