Transcom warns

Outsourced service provider Transcom Worldwide (STO:TWW SDB-B) is down over 20% after announcing a restructuring plan in connection with a warning of 'significantly lower volumes in Q2 2011. As a result of restructuring plan, there will restructuring and non-recurring costs of around 33 million Euro, out of which 24.2 million Euro will be weighing in on Q2 results as well. The company expects gross savings north of 10 million going forward. The "Restructuring & Rightsizing Plan" represents a dramatic shift for the company that has been pushing for fast sales growth for the past couple of years.