Restructurings & Charges

Theravance Biopharma, Inc. announced a restructuring with charges of approximately $5 million to $7 million affecting R&D and G&A functions (approximately 50% of the Company’s overall workforce).

“On March 3, 2026, the Company announced an organizational restructuring (the “Restructuring”), which is intended to reduce cost base by approximately 60% (or approximately $70 million) and expected to impact approximately 50% of the Company’s overall workforce. The Restructuring will be implemented over the next two quarters, with the Company expecting to incur approximately $5 million to $7 million in one-time cash severance costs related to the Restructuring.”

BioAtla, Inc. announced a restructuring with charges of between $0.5 and $0.6 million affecting the Company (approximately 70%).

“formal process to explore and evaluate strategic options to maximize shareholder value. The total cash payments related to this workforce reduction are estimated to be between $0.5 and $0.6 million related to employee severance and benefit costs. The Company expects to pay for the majority of these costs in the first quarter of 2026. The estimates of the”

Disc Medicine, Inc. announced a restructuring with charges of approximately $2.0 million affecting commercial functions and certain supporting functions (approximately 20%).

“Company expects to complete the implementation of the Restructuring Plan in the second quarter of 2026. The Company expects that it will incur aggregate charges of approximately $2.0 million in connection with the Restructuring Plan, consisting primarily of severance costs, which will be recorded primarily in the first quarter of 2026. The costs that the Company”

Block, Inc. announced a restructuring with charges of approximately $450 million to $500 million (reduce our current workforce by more than 40%).

“On February 26, 2026, the Company announced a workforce reduction restructuring plan (the “Workforce Plan”) designed to better align our organizational structure with our operating model and strategic priorities. As part of the Workforce Plan, we expect to reduce our current workforce by more than 40%. The Company currently estimates that we will incur charges of approximately $450 million to $500 million in connection with the Workforce Plan”

Viatris Inc announced a restructuring with charges of between $700 million and $850 million affecting enterprise-wide (up to approximately 10%).

“For the committed restructuring activities, the Company expects to incur total pre-tax charges ranging between $700 million and $850 million.”

TELEFLEX INC announced a restructuring with charges of $31 million to $37 million affecting remaining businesses after Strategic Divestitures.

“millions) Restructuring charges (1) $15 million to $18 million Restructuring related charges (2) $16 million to $19 million Total restructuring and restructuring related charges $31 million to $37 million (1) Substantially all of the charges consist of employee termination benefit costs. (2) Restructuring related charges represent costs that are directly related to”

C3.ai, Inc. announced a restructuring with charges of approximately $10.0 million to $12.0 million affecting global workforce (26% reduction in its global workforce).

“In connection with the reduction of the Company’s global workforce, the Company estimates that it will incur approximately $10.0 million to $12.0 million in pre-tax restructuring charges in the fourth quarter of fiscal year 2026, consisting of cash expenditures related to severance, other one-time termination benefits, and non-cash expenditures related to stock-based compensation.”

Lucid Group, Inc. announced a restructuring with charges of $40 million to $42 million affecting U.S. workforce (reduction of the Company’s current U.S. workforce by approximately 12 percent, excluding hourly production workers in ma).

“On February 20, 2026, in order to optimize the Company’s operating expenses as it focuses on the start of production of the Midsize platform, expansion into the robotaxi market and development of ADAS technologies, as well as the sale and distribution of its current models in existing and new geographies, the Company announced a reduction of the Company’s current U.S. workforce by approximately 12 percent, excluding hourly production workers in manufacturing, logistics, and quality (the “ Plan ”). The Plan is expected to provide the Company with cost savings of approximately $500 million over a three-year period. The Company estimates that it will incur charges of $40 million to $42 million related to severance, employee benefits, and employee transition.”

STEPAN CO announced a restructuring with charges of in the range of $70 to $80 million affecting Fieldsboro, New Jersey site; Elwood (Millsdale), Illinois and Stalybridge, United Kingdom facilities.

“On February 20, 2026, the Board of Directors of Stepan Company (“Stepan” or the “Company”) approved a comprehensive operational and efficiency plan with the objective to deliver approximately $100 million in pre-tax savings over the next two years (“Project Catalyst”). As part of Project Catalyst, the Company will close its Fieldsboro, New Jersey site and decommission select assets at its Elwood (Millsdale), Illinois and Stalybridge, United Kingdom facilities, by mid-2026. The Company anticipates recognizing restructuring charges in the range of $70 to $80 million in 2026, of which approximately $52 to $62 million is expected to be recognized in the three months ending March 31, 2026.”

Kenvue Inc. announced a restructuring with charges of approximately $250 million (approximately 3.5%).

“On February 17, 2026, the Company’s Board of Directors approved an initiative that aims to optimize its operating model, transform its supply chain, reduce complexity, and drive operational efficiencies, while strengthening core capabilities. The initiative is expected to result in a net global workforce reduction of approximately 3.5%. The initiative is expected to result in pre-tax restructuring expenses and other charges totaling approximately $250 million in fiscal year 2026, consisting of information technology and project-related costs (approximately 59%), employee-related costs (approximately 35%), and other implementation costs (approximately 6%).”

Werewolf Therapeutics, Inc. announced a restructuring with charges of approximately $4.1 million (64% of the Company’s workforce).

“estimates that it will record a one-time charge in the first quarter of 2026 related to employee separation benefits, including severance and related benefits, of approximately $4.1 million, all of which is anticipated to result in cash expenditures to be incurred in the first quarter of 2026. The Company may also incur additional costs not currently contemplated”

Ultragenyx Pharmaceutical Inc. announced a restructuring with charges of approximately $50 million in total restructuring and restructuring-related charges affecting across the Company (10% workforce reduction of approximately 130 employees).

“the Company is implementing a 10% workforce reduction of approximately 130 employees across the Company (the “RIF”). The Company began notifying affected employees on February 12, 2026, and expects this RIF to be substantially completed in the first half of 2026. The Company estimates that it will incur approximately $50 million in total restructuring and restructuring-related charges”

Origin Materials, Inc. announced a restructuring with charges of approximately $0.9 million in restructuring charges (reduction of approximately 32% of the Company's global workforce).

“completing in the first quarter of 2026, subject to compliance with statutory notice periods, where applicable. The Company anticipates that it will incur approximately $0.9 million in restructuring charges in connection with the workforce reduction, primarily consisting of cash expenditures of approximately $0.9 million for severance and benefits costs. The”

RYAN SPECIALTY HOLDINGS, INC. announced a restructuring with charges of The Empower Program includes (i) Business Platform Optimization and (ii) Compensation and Benefits. These actions are expected to be completed by the end of 202 affecting brokerage, binding, and underwriting operations.

“On February 10, 2026, the board of directors of the Company (the "Board") approved a three-year restructuring program (the "Empower Program"), which will commence in the first quarter of 2026. The Empower Program is designed to streamline the Company's brokerage, binding, and underwriting operations, optimize scale, accelerate data and technology strategies, and enhance efficiencies across all of the Company's specialties. The Empower Program is expected to generate approximately $80 million of annual savings in 2029. The Empower Program includes (i) Business Platform Optimization and (ii) Compensation and Benefits. These actions are expected to be completed by the end of 2028. The Company currently estimates that the Empower Program will result in cumulative pre-tax charges to its GAAP financial results of approximately $160 million which are expected to be recorded as exit and disposal activities and are broken down as follows: Program Activity Charges Business Platform Optimization”

INSPERITY, INC. announced a restructuring with charges of one-time charges of approximately $9 million in connection with the Realignment Plan, consisting primarily of cash expenditures for severance payments, employee affecting non-sales positions (elimination of approximately 4% of our non-sales positions).

“On February 10, 2026, we announced an internal reorganization designed to improve the efficiency and align our workforce with our key areas of focus (the “Realignment Plan”). These actions are expected to result in the elimination of approximately 4% of our non-sales positions. We expect to continue disciplined hiring in sales and other key positions. We currently estimate that we will incur one-time charges of approximately $9 million in connection with the Realignment Plan, consisting primarily of cash expenditures for severance payments, employee benefits, and related costs. We expect that the majority of the charges will be incurred in the first quarter of 2026 and that the execution of the Realignment Plan will be substantially complete before the end of the first quarter of 2026.”

ECOLAB INC. announced a restructuring with charges of total restructuring costs of $334 million ($261 million after tax) and special charges of $91 million ($71 million after tax) affecting global centers of excellence.

“On February 10, 2026, the Company announced the expansion of the One Ecolab initiative and anticipates total restructuring costs of $334 million ($261 million after tax) and special charges of $91 million ($71 million after tax) by the end of 2027.”

FORRESTER RESEARCH, INC. announced a restructuring with charges of approximately $10.0 million to $10.5 million affecting various geographies and functions; certain smaller offices both inside and outside the United States (approximately 8% of its employees).

“On February 9, 2026, the Company announced a reduction in its workforce of approximately 8% of its employees across various geographies and functions. Notification to affected persons commenced December 15, 2025 and is expected to be completed by July 31, 2026. The Company expects to incur pre-tax expenses of approximately $10.0 million to $10.5 million in the fourth quarter of 2025 and the first three quarters of 2026 related principally to cash severance and related benefit costs for terminated employees. The Company also plans to close certain of its smaller offices both inside and outside the United States. The Company anticipates total costs for this action to be approximately $0.4 million, consisting primarily of non-cash lease impairment costs. In addition, the Company expects to incur approximately $3.0 million for contract termination costs.”

MOLINA HEALTHCARE, INC. announced a impairment with charges of estimated non-cash, pre-tax impairment charge of approximately $93 million, attributable to certain of its intangible assets affecting intangible assets.

“On February 5, 2026, the Company concluded that it will record in the first quarter of 2026 an estimated non-cash, pre-tax impairment charge of approximately $93 million, attributable to certain of its intangible assets.”

Gemini Space Station, Inc. announced a restructuring with charges of approximately $11 million affecting United Kingdom, the European Union and other European jurisdictions, and Australia (up to 200 global employees, including employees in Europe, the United States, and Singapore, and representing approximat).

“law and consultation requirements. In connection with the Plan, the Company currently estimates that it will incur pre-tax restructuring and related charges of approximately $11 million, substantially all of which are expected to result in cash expenditures. These charges are expected to consist of employee-related costs, including severance payments, notice pay”

POWER INTEGRATIONS INC announced a restructuring with charges of between approximately $3.5 million and $4.0 million affecting global workforce (approximately 7% of the Company’s global workforce).

“costs and create a more efficient organization to support its business. In connection with the reduction in force, the Company estimates it will incur between approximately $3.5 million and $4.0 million of costs, substantially all of which are related to employee severance and benefit costs, which the Company expects to recognize in the first quarter of 2026.”

CROWN CASTLE INC. announced a restructuring with charges of approximately $30 million affecting towers business (approximately 20%).

“consolidated statement of operations) by approximately 20%. In connection with the Plan, the Company estimates it will incur aggregate restructuring charges of approximately $30 million, most of which the Company expects to incur in the first and second quarters of 2026. With respect to the employee headcount reductions, the Company estimates it will incur”

Workday, Inc. announced a impairment with charges of approximately $80 million affecting certain office space and long-lived assets.

“Workday estimates that it will incur approximately $135 million in charges which are expected to be recognized in the fourth quarter of fiscal 2026, consisting of approximately $40 million of future cash expenditures related to severance payments, employee benefits, and related costs and approximately $15 million in non-cash charges for stock-based compensation. The charges also consist of approximately $80 million in non-cash charges related to the impairment of certain office space and long-lived assets.”

Workday, Inc. announced a restructuring with charges of approximately $135 million affecting Global Customer Operations team (approximately 2% of Workday’s current workforce).

“its fiscal 2027, including additional revenue-generating areas to meet its market opportunity. In connection with the above, Workday estimates that it will incur approximately $135 million in charges which are expected to be recognized in the fourth quarter of fiscal 2026, consisting of approximately $40 million of future cash expenditures related to severance”

IO Biotech, Inc. announced a restructuring with charges of approximately $2.4 million to $2.6 million affecting globally.

“As part of previously announced efforts by IO Biotech, Inc. (the “Company”) to reduce the Company’s operating expenses while the Company explores a range of strategic alternatives, the Board of Directors of the Company approved on January 21, 2026, a restructuring and workforce reduction plan (the “Plan”) which is expected to result in a significant reduction of the Company’s workforce globally. In connection with the implementation of the Plan, the Company expects to incur one-time charges and cash expenditures in a range of approximately $2.4 million to $2.6 million, primarily related to employee wages and severance payments, healthcare continuation, earned vacation time and related termination costs.”

FEDEX CORP announced a restructuring with charges of $175 million to $275 million affecting FedEx Express FR (FedEx France) domestic operations in France (up to 500 operational positions).

“We expect the pre-tax costs of severance benefits, legal and professional fees, and facilities lease termination charges to be provided under and related to the transformation program to range from $175 million to $275 million”

HARVARD BIOSCIENCE INC announced a restructuring with charges of $3.4 to $4.4 million affecting manufacturing operations (targeted reconfiguration of the Company’s workforce across impacted operations).

“of the Company’s workforce across impacted operations. The Company expects to incur pre-tax restructuring charges related to Project Viking in the range of approximately $3.4 to $4.4 million, including non-cash asset write-off and/or accelerated depreciation charges in the range of approximately $0.6 to $0.7 million, primarily related to the exit of”

DOW INC. announced a restructuring with charges of in the range of $600 million to $800 million (approximately 4,500 roles globally).

“On January 26, 2026, the Company’s Board of Directors approved certain severance and related benefit costs for a workforce reduction of approximately 4,500 roles globally related to Transform to Outperform. The Company will record charges in 2026 and 2027 for costs associated with Transform to Outperform. In total, severance and related benefit costs and future cash outlays are expected to be in the range of $600 million to $800 million.”

RESOURCES CONNECTION, INC. announced a restructuring with charges of approximately $3 million affecting global management and administrative workforce (reduction of our global management and administrative workforce).

“efficiencies and streamlined operations. We expect the reduction in force to result in annual cost savings of $6 million to $8 million. Restructuring charges of approximately $3 million are expected to be recognized in the third and fourth quarters of fiscal 2026 and primarily consist of cash charges for employee termination benefits. We expect the workforce”

VIAVI SOLUTIONS INC. announced a restructuring with charges of approximately $32 million (approximately 5% of its global workforce).

“and asset write-offs. The Company expects approximately 5% of its global workforce to be affected. The Company estimates it will incur total charges of approximately $32 million in connection with the Plan, including approximately $24 million in cash expenditures, primarily related to employee severance and related costs. The Company expects to recognize”

PINTEREST, INC. announced a restructuring with charges of approximately $35 million to $45 million affecting global (less than 15% of the Company’s workforce).

“to affect less than 15% of the Company’s workforce as well as office space reductions. The Company anticipates incurring total pre-tax restructuring charges of approximately $35 million to $45 million, which are expected to be primarily cash-related expenditures. The Company intends to exclude the restructuring charges from its non-GAAP financial measures,”

Autodesk, Inc. announced a restructuring with charges of approximately $135 million to $160 million affecting world-wide (approximately 7% of its workforce, or approximately 1,000 employees).

“key strategic priorities across the Company throughout its fiscal year ending January 31, 2027. The Company expects to incur total pre-tax restructuring charges of approximately $135 million to $160 million, which is primarily attributable to employee termination benefits, in connection with the Plan. Substantially all of the pre-tax restructuring charges will result”

BCB BANCORP INC announced a impairment with charges of approximately $1.4 million affecting the Bank’s “Business Express” loans.

“Approximately $1.4 million of these net charge-offs were attributable to the Bank’s “Business Express” loans.”

BCB BANCORP INC announced a impairment with charges of $6.4 million affecting C&I loan.

“The largest of these charge-offs was a $6.4 million C&I loan.”

BCB BANCORP INC announced a impairment with charges of $15.1 million (pre-tax) affecting cannabis-related real estate owned (REO) property.

“On January 13, 2026, the Board of Directors and management of BCB Bancorp, Inc. (the “Company”) determined that a write down of $15.1 million (pre-tax) was required with respect to an isolated cannabis-related real estate owned (REO) property.”

AES CORP announced a impairment with charges of $250 million to $325 million affecting Maritza power plant in Bulgaria.

“The AES Corporation’s (“AES”) Maritza power plant in Bulgaria is operating under a Power Purchase Agreement (“PPA”) that expires in May 2026. Although negotiations are underway for a new PPA and other alternatives to realize additional value are being considered, no agreements have been reached. Further, in the fourth quarter of 2025, the Company made the decision not to invest in a conversion of the plant to an alternative fuel source. The Company has determined that collectively, these events represent an impairment indicator during the fourth quarter of 2025. An analysis was performed and as a result, a reduction in the Maritza assets’ useful life was deemed appropriate, and it was determined that the carrying value was not recoverable. In connection with these developments, on January 13, 2026, the Company concluded that a pre-tax impairment charge in the range of $250 million to $325 million is required to be recognized as of December 31, 2025, in accordance with U.S. generally ac”

Woodward, Inc. announced a restructuring with charges of approximately $20 million to $25 million affecting Industrial segment - China on-highway natural gas truck manufacturing operations.

“to incur material charges under generally accepted accounting principles. The Company currently estimates that it will recognize cumulative pre-tax charges of approximately $20 million to $25 million, including $3 million to $4 million of non-cash charges for facility and other asset-related charges, $5 million to $7 million in employee-related costs for”

Playtika Holding Corp. announced a restructuring with charges of approximately $12 million to $15 million (approximately 15%).

“The Plan includes a reduction of current employees by approximately 15% in the first quarter of 2026. The Company estimates the aggregate costs associated with the Plan to be approximately $12 million to $15 million, primarily consisting of severance payments, notice period payments in applicable jurisdictions, employee benefits and related costs.”

PEGASYSTEMS INC announced a restructuring with charges of approximately $13 million affecting Consulting organization (some role eliminations).

“On January 7, 2026, Pegasystems Inc. (the “Company”) committed to making organizational changes, primarily impacting the Consulting organization. This includes some role eliminations and reorganization. The Company has begun notifying affected employees, and communications to impacted persons or their representatives are expected to be substantially completed in the first quarter of 2026. The Company expects to incur a charge of approximately $13 million in the fourth quarter of 2025 related principally to cash severance and related benefit costs for terminated employees.”

Lyra Therapeutics, Inc. announced a restructuring affecting LYR-210 product candidate (substantially all of the Company’s remaining employees).

“On January 9, 2026, the Board of Directors of Lyra Therapeutics, Inc. (the “Company”) approved a plan to suspend further development of LYR-210, the Company’s lead product candidate for the treatment of chronic rhinosinusitis, and to implement a cost reduction plan that includes a workforce reduction impacting substantially all of the Company’s remaining employees, effective January 12, 2026, and other cost-saving actions to preserve capital (the “Plan”).”

FORMFACTOR INC announced a restructuring with charges of Restructuring charges primarily related to impairment of leasehold improvements, facility exits, severance, retention and other employee-related costs, and cont affecting Carlsbad, California and Baldwin Park, California (approximately 200 to 300 employees).

“On January 5, 2026, FormFactor, Inc. (“we”, “the Company” or “FormFactor”) adopted restructuring plans that are intended to better align cost structure and support gross margin improvement to the Company’s target financial model, while also aligning manufacturing capabilities with current and anticipated business needs and the Company's strategic priorities. As part of this restructuring plan, the Company is consolidating the manufacturing facilities located in Carlsbad, California and Baldwin Park, California. As a result, we have incurred, or expect to incur, personnel-related costs to sever or retain approximately 200 to 300 employees. We expect the actions defined under these plans will be largely completed by the end of December 2026, except facilities charges, which may extend beyond that time. The restructuring plans are expected to result in the Company recording restructuring charges in the aggregate amount of approximately $30 to $40 million on a GAAP basis, estimated to be c”

Lamb Weston Holdings, Inc. announced a restructuring with charges of approximately $50 million to $60 million affecting manufacturing facility in Munro, Argentina and consolidate production for the Latin America region to our new facility in Mar del Plata, Argentina.

“closure is part of our efforts to improve operating efficiency. In connection with the planned facility closure, we expect to incur total pre-tax charges of approximately $50 million to $60 million, substantially all of which are expected to be recognized in our fiscal year ending May 31, 2026. We estimate about half of these charges will result in future”

HNI CORP announced a restructuring with charges of estimated $14.9 million in 2026 and 2027 affecting Wayland, New York, manufacturing facility; workplace furnishings business (approximately 135 members).

“HNI anticipates charges resulting from the consolidation will impact pre-tax earnings by an estimated $14.9 million in 2026 and 2027, including $5.7 million of non-cash charges.”

IMMUCELL CORP /DE/ announced a impairment with charges of $0.6 million write-down affecting work-in-process colostrum inventory.

“a $0.6 million write-down primarily of work-in-process colostrum inventory that was determined to no longer be fit for processing into First Defense®”

IMMUCELL CORP /DE/ announced a impairment with charges of $0.1 million, non-cash impairment write-down affecting certain property, plant and equipment, unrelated to Re-Tain®.

“the Company has identified a $0.1 million, non-cash impairment write-down of certain property, plant and equipment”

IMMUCELL CORP /DE/ announced a impairment with charges of approximately $2.9 million affecting Re-Tain®.

“The resulting non-cash impairment write-down of property, plant and equipment pertaining to Re-Tain® is currently estimated at approximately $2.9 million”

IMMUCELL CORP /DE/ announced a impairment with charges of approximately $3.6 million in non-cash impairment write-downs affecting Re-Tain® assets and other property, plant and equipment and inventory.

“the Company announced that it will record approximately $3.6 million in non-cash impairment write-downs during the three-month period ended December 31, 2025.”

Commerce.com, Inc. announced a restructuring with charges of approximately $7.4 million and an additional $6.5 million.

“The Company recorded an expense of approximately $7.4 million in connection with the Plan during the fourth quarter of fiscal 2025 and estimates an additional $6.5 million in fiscal 2026, which are primarily related to severance payments, professional services, and other related costs.”

Angi Inc. announced a restructuring with charges of approximately $22 million to $30 million (approximately 350 employees).

“reduction in workforce, the Company estimates that it will record restructuring charges split between the fourth quarter of 2025 and the first quarter of 2026 of approximately $22 million to $30 million in total, primarily consisting of severance payments, employee benefits and related costs, all of which are anticipated to result in cash expenditures. The”

DIRTT ENVIRONMENTAL SOLUTIONS LTD announced a impairment with charges of approximately US$2.3 million affecting Rock Hill, South Carolina manufacturing facility.

“The Company expects to recognize a one-time, non-cash impairment expense related to leasehold improvements of approximately US$2.3 million.”

WABASH NATIONAL Corp announced a restructuring with charges of between $15 million and $20 million affecting its facilities in Little Falls, Minnesota and in Goshen, Indiana (approximately 3 salaried and 53 hourly employees and 21 salaried and 193 hourly employees, respectively).

“On January 5, 2026, Wabash National Corporation (the “Company”) announced and initiated a plan to idle its facilities in Little Falls, Minnesota and in Goshen, Indiana. The plan includes job reductions of approximately 3 salaried and 53 hourly employees and 21 salaried and 193 hourly employees, respectively, and is expected to be substantially complete by the end of Q2 2026. The total charges associated with this action are expected to be between $15 million and $20 million”