Aug 2 (Reuters) - Veris Ltd VRS.AX :
* INTRODUCED IMMEDIATE CORRECTIVE MEASURES THAT WILL PRODUCE A REDUCTION IN COSTS OF CIRCA $3 MILLION ON AN ANNUALISED BASIS
* MEASURES INCLUDE REDUCING NUMBER OF SENIOR MANAGEMENT POSITIONS IN BOTH CORPORATE AND OPERATIONS
* NO INCENTIVE PAYMENTS FOR 2019 FINANCIAL YEAR WILL BE PAID TO EXECUTIVE TEAM
* IMPLEMENTED STRUCTURAL CHANGES TO ITS MANAGEMENT, REPORTING LINES AND SYSTEMS TO PROVIDE IMPROVED LINE OF SIGHT TO BUSINESS PERFORMANCE