Global workforce transformation solutions provider GP Strategies Corporation (NYSE: GPX) reported today it has entered into an amendment to the lease for its headquarters facility in Columbia, Maryland that, effective January 1, 2021, will reduce its space by approximately 22,000 square feet and reduce its rental expense for this office by approximately $750,000 per year. This amendment is part of a global reevaluation of real estate needs, which has resulted in strategic decisions on lease consolidations and office closures over the past year. These actions are expected to result in approximately $2.0M of annual savings in facility expenses for the Company in 2021 compared to 2020.

"We have successfully adapted how we work virtually to maintain our productivity and collaboration without any disruption to how we serve our clients," stated Adam Stedham, Chief Executive Officer of GP Strategies. "This fresh look at our real estate footprint allowed us to take advantage of alternative workplace strategies and gain efficiencies in our facility space."

About GP Strategies

GP Strategies Corporation (NYSE: GPX) is a global workforce transformation solutions provider of training, digital learning strategies and solutions, management consulting, and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting, and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, automotive, financial services, technology, and other commercial and government customers.