Restructurings & Charges

LiveWire Group, Inc. announced a restructuring with charges of $1.0 million to $1.5 million and one-time termination benefit costs of $2.0 million to $3.5 million affecting LiveWire Labs, the Company’s west coast product development facility, from Mountain View, California to Milwaukee, Wisconsin.

“efficiencies in product development and simplify the Company’s overall path to future profitability. Under this plan, the Company expects to incur one-time relocation costs of $1.0 million to $1.5 million and one-time termination benefit costs of $2.0 million to $3.5 million, and expects the vast majority to be cash charges. The Company expects to complete this”

STANDARD BIOTOOLS INC. announced a restructuring with charges of Streamlined Operational Expenditures including closure of the Company's R&D facility in San Diego, reductions in SG&A expenses, and savings related to a more pr affecting R&D facility in San Diego and overall SG&A expenses.

“Streamlined Operational Expenditures: Includes reductions in overall selling, general and administrative (SG&A) expenses, the closure of the Company’s R&D facility in San Diego, as well as savings related to a more prioritized R&D strategy.”

STANDARD BIOTOOLS INC. announced a restructuring with charges of Reduction-in-force of approximately 10% of total workforce, including elimination of certain senior management positions, with expected expenses of $10 million affecting total workforce (approximately 10% of its total workforce).

“On April 25, 2024, Standard BioTools Inc. (the “Company”) announced a reduction-in-force of approximately 10% of its total workforce, including the elimination of certain senior management positions following the closing of the Company’s merger with SomaLogic, Inc., as part of an operational restructuring plan.”

MASONITE INTERNATIONAL CORP announced a impairment with charges of $90 to $100 million affecting Architectural reporting segment.

“Masonite anticipates recording a net non-cash impairment charge during the second quarter of 2024 in the preliminary range of $90 to $100 million (the “Impairment”) as a result of the Disposition.”

SUNPOWER CORP announced a restructuring with charges of approximately $28 million.

“to further advance efforts to reduce operating costs and improve the economics of the business. The Company expects to incur restructuring charges totaling approximately $28 million, consisting of approximately $14 million in severance benefits, and approximately $14 million related to early contract termination and certain right-of-use and leasehold”

Lumen Technologies, Inc. announced a restructuring with charges of approximately $90 to $100 million (less than 7%).

“completed by the end of the second quarter of 2024. As a result of this plan, the Company expects to incur severance and related costs in the range of approximately $90 to $100 million, substantially all of which we expect to record in the second quarter of 2024. Other than these costs, the Company does not expect to incur any material impairment”

Adient plc announced a restructuring with charges of approximately $125 million affecting Europe.

“works councils to complete statutory co-determination procedures will occur over the coming months. Adient currently expects to record a restructuring charge of approximately $125 million in the second quarter of fiscal year 2024, almost entirely related to termination benefits in Europe. Adient currently estimates that this charge will result in future cash”

ALBANY INTERNATIONAL CORP /DE/ announced a restructuring affecting forming fabric manufacturing facility in Chungju, South Korea (76 affected manufacturing employees).

“Albany International Korea, Inc., an affiliate of Albany International Corp. (NYSE:AIN), announced today its plan to discontinue manufacturing at its operations in Chungju, South Korea, and to transfer production to other Albany International manufacturing facilities. This action will enable the Company to align forming fabric capacity with the local market demand and the needs of customers. This initiative to streamline operations is driven by existing and anticipated market conditions, and in no way reflects on the performance of the 76 affected manufacturing employees, who will be offered separation and outplacement assistance.”

UNITED STATES ANTIMONY CORP announced a restructuring with charges of approximately $40,000 affecting US Antimony de Mexico, S.A. de C.V. (USAMSA) (termination of a majority of USAMSA's employees).

“as of April 12, 2024, the Company incurred approximately $40,000 related to the termination of a majority of USAMSA's employees”

BIOLIFE SOLUTIONS INC announced a restructuring with charges of approximately $2.5 million of charges affecting Global Cooling, Inc. (approximately 47 employees (representing approximately 11% of its full-time employees)).

“on March 29, 2024, and all affected employees were informed on April 17, 2024, following the execution of the Purchase Agreement. The Company expects to recognize approximately $2.5 million of charges in connection with the RIF, comprised of approximately $2.0 million of stock compensation expense and approximately $0.5 million in cash expenditures, substantially”

DermTech, Inc. announced a restructuring with charges of approximately $1.6 million (approximately 100 employees).

“The restructuring plan will include a reduction of its current workforce by approximately 100 employees, or approximately 56% of the Company’s workforce. The Company estimates that it will incur aggregate pre-tax charges of approximately $1.6 million in connection with the Reduction in Force, primarily consisting of severance payments, employee benefits, outplacement services and related costs.”

ADTRAN Holdings, Inc. announced a restructuring with charges of $13.5 million to $18.4 million affecting Greifswald, Germany facility.

“management of the Company determined on April 11, 2024 to close the Company’s facility in Greifswald, Germany (the “Facility”), within the next three months. The Company currently expects to incur total costs ranging from approximately $13.5 million to $18.4 million in connection with the closure of the facility.”

CorEnergy Infrastructure Trust, Inc. announced a impairment with charges of a preliminary loss on impairment of long-lived assets of $254.9 million affecting Crimson assets.

“the Company determined the carrying value of certain of its long-lived assets were greater than the fair value and accordingly recorded a preliminary loss on impairment of long-lived assets of $254.9 million”

TAKE TWO INTERACTIVE SOFTWARE INC announced a restructuring with charges of approximately $160 million to $200 million (approximately 5%).

“On April 16, 2024 the Board of Directors of Take-Two Interactive Software, Inc. (the “Company”) approved a cost reduction program (the “Plan”) to identify efficiencies across its business and enhance the Company’s margin profile, while still investing for growth. As part of these efforts, the Company is rationalizing its pipeline and eliminating several projects in development and streamlining its organizational structure, which will eliminate headcount and reduce future hiring needs. The Company estimates that it will incur approximately $160 million to $200 million in total charges in connection with the Plan.”

MUSTANG BIO, INC. announced a restructuring with charges of approximately $0.2 million (approximately 81% of its employee base).

“to be substantially completed in the second quarter of 2024. As a result of these actions, Mustang expects to incur personnel-related restructuring charges of approximately $0.2 million in connection with one-time employee termination cash expenditures, which are expected to be incurred in the second quarter of 2024. Mustang may also incur other charges or cash”

Molecular Templates, Inc. announced a restructuring with charges of approximately $0.1 million (approximately 30%).

“On April 11, 2024, the Board of Directors of Molecular Templates, Inc. (the “Company” or “Molecular Templates”) approved a reduction in force (the “Reduction in Force”) in order to extend its resources to better position the organization and to allow the Company to continue to support its clinical studies for MT-6402, MT-8421 and MT-0169. The Reduction in Force would reduce the Company’s current workforce by approximately 30%. The Company estimates that it will incur aggregate pre-tax charges of approximately $0.1 million in connection with the Reduction in Force, primarily consisting of legal fees and other related termination costs.”

JELD-WEN Holding, Inc. announced a restructuring with charges of approximately $45 million affecting manufacturing facilities in Vista, California and Hawkins, Wisconsin.

“in a continuing effort to simplify the Company’s footprint and drive operational efficiencies. In connection with the Site Closures, the Company expects to incur approximately $45 million in pre-tax restructuring expenses and other closure costs, including building restoration, equipment relocation and employee-related costs, as well as asset-related charges.”

INVACARE HOLDINGS Corp announced a restructuring with charges of approximately $1 million affecting North America.

“to headcount reductions. As a result, the Company anticipates annual pre-tax savings of approximately $8 million. The Company will incur restructuring charges of approximately $1 million and expects to make cash payments in the same amount, primarily related to severance costs expected to be paid out over the second quarter of 2024. As it has done for the past”

SMITH MICRO SOFTWARE, INC. announced a impairment affecting single reporting unit (goodwill).

“the Company concluded on April 4, 2024 that the carrying value of the Company’s single reporting unit exceeded its fair value and that a material non-cash pretax impairment charge related to goodwill will be required under generally accepted accounting principles for the first quarter of 2024”

Amylyx Pharmaceuticals, Inc. announced a restructuring with charges of approximately $19 million affecting not specified (approximately 70%).

“Plan by the end of the third quarter of 2024. As part of this Restructuring Plan, the Company expects to incur severance and severance-related charges of approximately $19 million. The Company is also evaluating its inventory purchase commitments and the impact its Restructuring Plan will have on inventory obsolescence. The Company may also incur other”

Xilio Therapeutics, Inc. announced a restructuring with charges of approximately $1.0 million (a reduction in headcount of 15 employees, representing approximately 21% of the Company's current workforce).

“the Company expects to incur one-time costs of approximately $1.0 million, primarily related to cash expenditures for severance and benefits continuation.”

KIMBERLY CLARK CORP announced a restructuring with charges of approximately $1.5 billion pre-tax.

“On March 25, 2024, Kimberly-Clark Corporation (the “Corporation”) approved a global transformation initiative intended to improve the Corporation’s focus on growth and reduce its structural cost base by (1) reorganizing the Corporation into three new segments, (2) making the corporate and regional overhead cost structures more efficient and (3) optimizing the Corporation’s global supply chain. Certain actions under the transformation initiative are being finalized for implementation. Actions contemplated under the transformation initiative have commenced in the first quarter of 2024 and are expected to be completed by December 31, 2026. The transformation initiative is expected to result in cumulative charges of approximately $1.5 billion pre-tax over that period.”

Gamida Cell Ltd. announced a restructuring with charges of approximately $1.8 million (approximately 25%).

“separation agreement that includes a general release of claims against the Company. The Company estimates that the severance and termination-related costs will be approximately $1.8 million and expects to record these charges and pay these costs in the second quarter of 2024. The costs that the Company expects to incur in connection with the workforce reduction are”

Santa Fe Gold CORP announced a impairment with charges of $1,400,000 affecting mineral rights.

“The Company in our financial statements for the quarter ending March 31, 2024, will recognize a write down of $1,400,000 in mineral rights with the termination of the Agreement.”

Li-Cycle Holdings Corp. announced a restructuring with charges of approximately $8.3 million (approximately 60 positions, representing approximately 17% of the Company’s global workforce).

“expects to substantially complete the workforce reduction by the end of the first quarter of 2024. The Company estimates that it will incur total charges of approximately $8.3 million in connection with the workforce reduction, with the majority of these charges to be incurred as cash severance payments over the course of the next twelve (12) months. It is”

GoPro, Inc. announced a restructuring with charges of approximately $7.5 million (approximately 4%).

“The restructuring of the Company’s business will result in estimated aggregate costs of approximately $7.5 million.”

ALPINE 4 HOLDINGS, INC. announced a restructuring with charges of total non-cash expenses of between $10 million and $12 million, including impairment of intangible assets of approximately $11 million and impairment of a porti affecting wholly owned subsidiary Thermal Dynamics International, Inc. (TDI).

“with customers and suppliers of the business. In connection with approval of the plan to exit the business, the Company is expected to incur total non-cash expenses of between $10 million and $12 million, including impairment of intangible assets of approximately $11 million and impairment of a portion of property, plant and equipment of approximately $1 million.”

HERBALIFE LTD. announced a restructuring with charges of at least $60 million of pre-tax expenses.

“The Company expects to recognize at least $60 million of pre-tax expenses in 2024 related to the restructuring, which is primarily related to severance costs.”

Presto Automation Inc. announced a restructuring with charges of $0.4 million affecting Touch business (24 corporate roles, or 18% of the Company’s workforce).

“reduction in force to be substantially complete by the end of the fiscal fourth quarter of 2024. Total costs and cash expenditures for the reduction in force are estimated at $0.4 million, substantially all of which are related to employee severance and benefits costs and will be recognized in the fiscal third and fourth quarter of 2024. The Company expects to pay”

JABIL INC announced a restructuring with charges of approximately $300 million.

“The Company continues to expect the total amount of pre-tax restructuring and other related costs to be approximately $300 million, including the following estimated items: • $150 million to $180 million of employee severance and benefit costs; • $80 million to $120 million of asset write-off costs; and • $30 million to $40 million of contract termination costs and other related costs.”

Sonder Holdings Inc. announced a impairment affecting operating lease right of use assets and related items.

“The Company recently identified accounting errors related to the valuation and impairment of operating lease right of use assets and related items for the fiscal years 2022 and 2023.”

SPRUCE BIOSCIENCES, INC. announced a restructuring with charges of the Company estimates that it will incur approximately $0.4 million in cash charges in connection with the Realignment Plan, consisting of expenses related to e affecting workforce reduction of approximately 21% (workforce reduction of approximately 21%).

“and expenditures relating to the Realignment Plan will not be known until all related activities have been completed. The Company estimates that it will incur approximately $0.4 million in cash charges in connection with the Realignment Plan, consisting of expenses related to employee severance payments and healthcare coverage assistance and related costs. The”

Vroom, Inc. announced a restructuring with charges of approximately $31.5 million affecting ecommerce operations and used vehicle dealership business.

“the Company now estimates it will incur approximately $31.5 million in one-time expenses in connection with the Plan. Included in this amount are approximately $15.0 million in costs attributable to contract and lease terminations and approximately $16.5 million of expenses the Company expects to incur relating to employee severance and benefits costs”

ENTERGY CORP /DE/ announced a impairment with charges of $132 million ($99 million net-of-tax) affecting Entergy Arkansas.

“As a result of the adverse decision by the U.S. District Court for the Eastern District of Arkansas, on March 12, 2024, Entergy Arkansas concluded that it can no longer support the recognition of this regulatory asset and will record in first quarter 2024 a $132 million ($99 million net-of-tax) charge to earnings.”

KULICKE & SOFFA INDUSTRIES INC announced a restructuring with charges of $110 million and $130 million affecting advanced display market, Project W.

“on March 11, 2024, the Company committed to a plan to cease operational activities and commence wind down activities concerning various aspects of the Project, as a result of which the Company expects to incur pre-tax charges, including impairments, in the range of $110 million and $130 million”

UNITED STATES ANTIMONY CORP announced a restructuring affecting Latin America operational activities, including Madero smelter facility in Parras de la Fuente Coahuila and Puerto Blanco mining facility in San Luis de la Paz Guanajuato (terminate a majority of USAMSA employees).

“On March 11, 2024, United States Antimony Corporation’s (“USAC” or “U.S. Antimony” or the “Company”) Board of Directors approved a plan to discontinue all Latin America operational activities and dispose of its US Antimony de Mexico, S.A. de C.V. (“USAMSA”) subsidiary, effective immediately.”

Cibus, Inc. announced a impairment with charges of an estimated approximately $249.4 million affecting goodwill and in-process R&D indefinite-lived intangible assets acquired in the merger transactions with Cibus Global, LLC.

“management expects to record a non-cash impairment charge of an estimated approximately $249.4 million for impairment of goodwill and in-process R&D indefinite-lived intangible assets in the consolidated financial statements for the year ended December 31, 2023.”

Kronos Bio, Inc. announced a restructuring with charges of approximately $0.5 million associated with cash severance payments primarily in the first quarter of 2024, and up to approximately $0.1 million in charges assoc (approximately 21% reduction in its workforce).

“On March 5, 2024, the Board of Directors of Kronos Bio, Inc. (the “Company”) approved an approximately 21% reduction in its workforce as part of a strategic resource allocation and cost containment plan. The workforce reduction is expected to be completed on March 7, 2024. In connection with the reduction in workforce, the Company expects to incur charges of approximately $0.5 million associated with cash severance payments primarily in the first quarter of 2024, and up to approximately $0.1 million in charges associated with cash payments for COBRA reimbursement over up to the next six months.”

Bionano Genomics, Inc. announced a restructuring affecting global operations (approximately 110 to 125 employees).

“On March 1, 2024, the Company committed to a corporate reorganization plan (the “Plan”), including a reduction in force (the “Reduction”) intended to decrease expenses and maintain a streamlined organization to support key programs that are expected to drive long-term growth.”

OneSpan Inc. announced a restructuring with charges of $13 million to $15 million.

“The Company now estimates that it will incur from $13 million to $15 million in total restructuring charges associated with the Actions (the “Total Expected Charges”), as compared to its preliminary estimate of $15 million to $20 million set forth in the Original 8-K.”

EAGLE PHARMACEUTICALS, INC. announced a restructuring with charges of approximately $3.5 million in cash charges affecting commercialization of Byfavo, Barhemsys and Ryanodex (approximately 36%).

“expenditures relating to the Realignment Plan will not be known until all related activities have been completed. The Company estimates that it will incur approximately $3.5 million in cash charges in connection with the Realignment Plan, consisting of (i) approximately $3.1 million in cash-based expenses related to employee severance payments and healthcare”

Gritstone bio, Inc. announced a restructuring with charges of approximately $2.5 million (approximately 40 percent).

“On February 29, 2024, Gritstone bio, Inc. (the “Company”) announced a reduction in its workforce by approximately 40 percent intended to reduce costs and preserve capital. The Company expects to incur aggregate cash expenditures of approximately $2.5 million, primarily related to employee severance and benefit costs associated with the workforce reduction.”

KINETA, INC./DE announced a restructuring with charges of The restructuring includes a significant workforce reduction to substantially reduce expenses and preserve cash. (Kineta is reducing its workforce by approximately 64%, which will result in the elimination of seven positions. This inc).

“On February 29, 2024, Kineta, Inc. (the “Company”) announced its intention to explore strategic alternatives, as described further under Item 7.01 of this Current Report on Form 8-K (this “Current Report”). In connection therewith, the Company made a decision to implement a workforce reduction of the Company’s workforce by seven full-time employees, or approximately 64% of the Company’s then-current employee base.”

ELECTRONIC ARTS INC. announced a restructuring with charges of $125 million to $165 million (approximately 5% of the Company's workforce).

“On February 27, 2024, the Board of Directors of Electronic Arts Inc. (the "Company") approved a restructuring plan (the "Plan") focused on aligning its portfolio, investments, and resources in support of its strategic priorities and growth initiatives. These actions are consistent with the Company’s ongoing focus to deliver against its long-term strategy to drive durable growth, strong cash-flow, and stockholder returns. The Plan reflects actions driven by portfolio rationalization, including costs associated with licensor commitments, as well as reductions in real estate and headcount, impacting approximately 5% of the Company's workforce. The Company estimates that it will incur approximately $125 million to $165 million in total charges in connection with the Plan. These charges consist of approximately $50 million to $65 million associated with office space reductions, approximately $40 million to $55 million related to employee severance and employee-related costs, and $35 million”

Vacasa, Inc. announced a restructuring with charges of These changes reflect continued efforts to reshape the organization by streamlining the Company's structure and reducing seniority levels across departments. Th affecting across the Company, in both its local operations teams and central teams (approximately 320 positions across the Company, in both its local operations teams and central teams, representing appro).

“On February 27, 2024, the Board of Directors of the Company approved a workforce reduction plan (the “Plan”) designed to align the Company’s expected cost base with its 2024 strategic and operating priorities and continued achievement of adjusted EBITDA profitability in 2024, against a wide range of macroeconomic outcomes. These changes reflect continued efforts to reshape the organization by streamlining the Company's structure and reducing seniority levels across departments. The Plan includes the elimination of approximately 320 positions across the Company, in both its local operations teams and central teams, representing approximately 5% of the workforce, or approximately 2% of the local operations teams and approximately 6% of the central team. The Company expects to incur $4-5 million of costs, consisting primarily of employee severance and benefit costs and professional services fees in connection with the Plan, most of which are expected to be incurred in the first and second”

Walt Disney Co announced a impairment with charges of between $1.8 billion to $2.4 billion affecting Star India Private Limited and entertainment linear networks reporting unit.

“In the current quarter, the Company currently expects to record non-cash pre-tax impairment charges estimated to be between $1.8 billion to $2.4 billion, approximately half of which reflects a write-down of the net assets of Star India, in order to adjust them to fair value (less estimated transaction costs) pursuant to held-for-sale accounting, and approximately half of which reflects a write-down of goodwill at the entertainment linear networks reporting unit, reflecting the impact of removing Star India.”

ADT Inc. announced a restructuring with charges of approximately $70 million - $110 million affecting ADT Solar business.

“we currently expect to incur additional aggregate charges of approximately $70 million - $110 million, related to (a) employee separation costs of approximately $7 million - $10 million, (b) long-lived asset impairments and write-off of deferred implementation costs associated with cloud computing arrangements of approximately $16 million - $20 million, (c) contract termination charges of approximately $6 million - $10 million, (d) the write-down and disposition of inventory on hand of approximately $15 million - $22 million, and (e) other charges of approximately $26 million - $48 million, which primarily relate to the impact associated with the disposition of the existing installation pipeline.”

Macy's, Inc. announced a restructuring with charges of approximately $1.0 billion in impairment, restructuring and other costs affecting the approximately 150 locations planned for closure over the next three years.

“On February 27, 2024 , Macy’s announced that it incurred approximately $1.0 billion in impairment, restructuring and other costs in the fourth quarter of fiscal 2023 primarily related to actions intended to support profitable growth and market share gains, and that align with A Bold New Chapter strategy.”

FMC CORP announced a restructuring with charges of Consulting and other professional service fees totaling approximately $5 to $15 million affecting Global (Global workforce reduction of approximately 8%).

“The Company expects to incur consulting and other professional service fees totaling approximately $5 to $15 million to help execute these actions as well as for the design and implementation of the future structures and processes.”

FMC CORP announced a restructuring with charges of Asset write-off charges in the range of $80 to $90 million primarily related to possible relocation of manufacturing and other operations affecting Global (Global workforce reduction of approximately 8%).

“We expect asset write-off charges in the range of $80 to $90 million in connection with Project Focus activities primarily related to the possible relocation of certain manufacturing and other operations.”