Restructurings & Charges

STEELCASE INC announced a restructuring with charges of approximately $10 million to $13 million affecting France (approximately 40 to 50 salaried roles).

“On May 3, 2023, in response to persisting inflationary pressures and decreasing plant utilization in Europe, the Middle East and Africa (“EMEA”), the Board of Directors of Steelcase Inc. (the “Company”) approved plans for workforce reductions in France. These plans involve the reduction of approximately 40 to 50 salaried roles. The Company expects to incur approximately $10 million to $13 million in pre-tax restructuring charges in connection with these actions, consisting of cash severance payments and payment of other separation-related benefits.”

FORRESTER RESEARCH, INC. announced a restructuring with charges of approximately $7.3 million to $8.0 million affecting various geographies and functions (approximately 8% of its employees).

“On May 4, 2023, the Company announced a reduction in its workforce of approximately 8% of its employees across various geographies and functions. Notification to affected persons commenced May 1, 2023 and is expected to be completed by May 26, 2023. The Company expects to incur pre-tax expenses of approximately $7.3 million to $8.0 million in the second quarter of 2023 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 $2.0 million to $2.3 million, consisting primarily of non-cash lease impairment costs. In addition, the Company expects to incur approximately $0.7 million for contract termination costs.”

Unity Software Inc. announced a restructuring with charges of approximately $26 million (approximately 600 employee roles, or 8% of its workforce).

“On May 2, 2023, Unity Software Inc. (“ Unity ” or the “ Company ”) announced the reduction of approximately 600 employee roles, or 8% of its workforce as it restructures specific teams in order to continue to position itself for long-term and profitable growth. Unity estimates that it will incur approximately $26 million in charges in connection with the restructuring, which are substantially all cash expenditures and which will be substantially incurred in the second quarter of 2023.”

BRIGHTCOVE INC announced a restructuring with charges of between $2.0 million and $2.2 million (approximately 10%).

“On April 28, 2023, the Board of Directors of the Company authorized a restructuring (the “Plan”) that is designed to reduce operating costs, improve operating margins and focus on key growth and strategic priorities. The Plan includes a reduction of the Company’s current workforce by approximately 10%. In connection with the Plan, the Company estimates that it will incur charges of between $2.0 million and $2.2 million related to employee severance costs, consisting primarily of cash expenditures.”

Home Point Capital Inc. announced a restructuring with charges of approximately $30 million affecting direct participation in the originations market.

“the Company currently expects to incur pre-tax charges of approximately $30 million, of which the Company expects that approximately $10 million will be cash expenditures. Of the aggregate pre-tax charges, the Company estimates approximately $10 million will consist of employee severance, retention and related benefits; approximately $15 million will consist of vendor contract terminations and other costs; and approximately $5 million will consist of non-cash charges for the impairment of fixed assets.”

WestRock Co announced a restructuring with charges of approximately $515 million affecting the Company’s paper mill located in North Charleston, South Carolina (approximately 500 people).

“On May 2, 2023, WestRock Company (the “Company”) announced its plan to permanently cease operating the Company’s paper mill located in North Charleston, South Carolina on August 31, 2023, as part of its ongoing efforts to improve return on invested capital and maximize the performance of its assets. The Company expects to incur aggregate charges of approximately $515 million associated with the North Charleston mill closure, consisting of $396 million in asset write-down or related charges, $28 million in severance and other employee costs, and $91 million in other restructuring costs (e.g., mill shutdown, contract termination and facility carrying costs).”

Legacy IMBDS, Inc. announced a impairment with charges of $38.5 million affecting goodwill.

“On April 28, 2023, the Company concluded that because of the lower financial performance than expected in the current fiscal year, decline in the market capitalization of the Company, and the lower projected results over the next three years, a material impairment to the Company’s goodwill would need to be recorded. As a result, the Company expects to record an impairment charge of $38.5 million related to the Company’s goodwill during the three and twelve month periods ended January 28, 2023.”

EASTERN CO announced a restructuring with charges of between $3.5 million and $4.5 million affecting Associated Tool Makers Ltd. facility located in Farndon, United Kingdom (approximately 10 job reductions).

“The Company expects to substantially complete this plan by the end of the third quarter of 2023 and estimates total pre-tax charges associated with this action to be between $3.5 million and $4.5 million”

Cue Health Inc. announced a restructuring with charges of in the range of approximately $5.0 million to $7.0 million (326 employees, which constitutes a reduction of approximately 30% in the Company’s global workforce).

“In connection with the CRP, the Company estimates that it will record an aggregate restructuring charge related to one-time termination benefits in the range of approximately $5.0 million to $7.0 million. The substantial majority of these charges will result in cash expenditures. Cash expenditures in connection with the CRP consist of payments for salary,”

MedAvail Holdings, Inc. announced a restructuring (approximately 27% of the Company’s current full-time employees).

“On April 27, 2023, MedAvail Holdings, Inc. (the “Company”) completed an additional reduction in force (the “Reduction”), in which approximately 27% of the Company’s current full-time employees were immediately terminated, effective April 28, 2023.”

GAP INC announced a restructuring with charges of approximately $100 million to $120 million (approximately 1,800 employees).

“that includes a reduction of the Company's headquarters and upper field workforce by approximately 1,800 employees. The Company estimates that it will incur approximately $100 million to $120 million in aggregate pre-tax costs in connection with the Plan, which consists of approximately $75 million to $85 million in employee-related costs and $25 million to”

Lyft, Inc. announced a restructuring with charges of approximately $41 million to $47 million (approximately 1,072 employees, representing 26% of the Company’s employees).

“On April 27, 2023, Lyft, Inc. (the “Company”) announced a restructuring plan as part of its efforts to reduce operating costs. The plan involves the termination of approximately 1,072 employees, representing 26% of the Company’s employees. The Company has also decided to scale back hiring and has eliminated over 250 open positions. In connection with the plan, the Company estimates that it will incur a cost of approximately $41 million to $47 million related to severance and employee benefits in the second quarter of 2023, all of which will be future cash expenditures.”

Alteryx, Inc. announced a restructuring with charges of approximately $11 million to $13 million affecting sales and marketing and general and administrative organizations (approximately 11%, or approximately 320, of the Company’s full-time employees).

“The Workforce Reduction Plan is expected to impact approximately 11%, or approximately 320, of the Company’s full-time employees, primarily in the sales and marketing and general and administrative organizations. The Company currently estimates that it will incur charges of approximately $11 million to $13 million in connection with the Workforce Reduction Plan”

DROPBOX, INC. announced a restructuring with charges of approximately $37 million to $42 million affecting global workforce (approximately 16%).

“in force into future growth initiatives, and will continue to hire for roles critical to those initiatives. Dropbox estimates that it will incur charges of approximately $37 million to $42 million in connection with the reduction in force, primarily consisting of cash expenditures for severance payments, employee benefits and related costs. The Company”

IDW MEDIA HOLDINGS, INC. announced a restructuring with charges of approximately $0.9 million in severance and related costs (approximately 28 employees, or 39% of its current workforce).

“On April 25, 2023, the Board of Directors (the “Board”) of IDW Media Holdings, Inc. (the “Company”) approved a reduction in force with respect to approximately 28 employees, or 39% of its current workforce. The Board has elected to take these actions to preserve capital and put the Company in a better position possible to unlock value from its assets, including its intellectual property and ability to generate new intellectual property. On April 27, 2023, the Company notified the relevant employees of this reduction in force, which was expected to be completed on the same day. The reduction in force and other steps, after the effect of backfilling certain positions, is expected to deliver approximately $4.4 million in annual savings and will result in approximately $0.9 million in severance and related costs to be recognized in the second quarter of fiscal 2023.”

Utz Brands, Inc. announced a impairment with charges of approximately $8.5 million to $11.0 million affecting manufacturing facility located in Birmingham, Alabama.

“The Company also expects to incur non-cash charges of approximately $8.5 million to $11.0 million in asset impairments.”

Utz Brands, Inc. announced a restructuring with charges of approximately $3.0 million to $5.0 million affecting manufacturing facility located in Birmingham, Alabama.

“The Company currently expects to incur pre-tax cash charges of approximately $3.0 million to $5.0 million in connection with the Manufacturing Closure in fiscal year 2023, which is expected to include $1.5 million in severance costs and $1.5 million to $3.5 million in closing and transfer of production costs.”

SANGAMO THERAPEUTICS, INC announced a restructuring with charges of approximately $5 million to $7 million affecting United States workforce and California internal manufacturing and allogeneic research footprints (approximately 120 roles in the United States, or approximately 27% of its United States workforce).

“in the elimination of approximately 120 roles in the United States, or approximately 27% of its United States workforce. Sangamo estimates that it will incur approximately $5 million to $7 million in cash-based expenses related to employee severance and notice period payments, benefits and related restructuring costs. Sangamo expects that the majority of the”

EMCORE CORP announced a restructuring with charges of approximately $2.1 million affecting Broadband business segment and defense optoelectronics product line (approximately 75 positions in the U.S. (primarily in Alhambra, California) and approximately 25 positions in China, coll).

“in the Company's future reporting periods, including, without limitation, one-time employee severance and termination costs related to the Restructuring of approximately $2.1 million (of which the Company expects that approximately $0.5 million will be in stock-based compensation expenditures relating to the acceleration of the vesting of outstanding equity”

BuzzFeed, Inc. announced a restructuring with charges of $7 million to $11 million (approximately 15 percent reduction in the current workforce).

“of providing, where required, WARN notice, and severance, including outplacement services and benefits continuation. We estimate that the foregoing charges will range between $7 million to $11 million, and we expect the charges will be recognized primarily in the second quarter of 2023, with the majority of such charges anticipated to be paid by the end of the”

CLOVER HEALTH INVESTMENTS, CORP. /DE announced a restructuring with charges of approximately $7.0 to $9.0 million affecting core plan operations and corporate restructuring (approximately 10% of the Company’s workforce).

“resulted in the elimination of approximately 10% of the Company’s workforce. The Company expects to record total charges related to the initiatives of approximately $7.0 to $9.0 million, primarily all of which will result in future cash expenditures. These charges are expected to be recorded in the first and second quarters of 2023, and to”

Seagate Technology Holdings plc announced a restructuring with charges of approximately $150 million.

“The Plan, which the Company expects to be substantially completed by the end of the fiscal fourth quarter 2023, is expected to result in total pre-tax charges of approximately $150 million. The charges are expected to be primarily cash-based and consist of employee severance and other one-time termination benefits. The Company expects to realize run-rate savings of”

F5, INC. announced a restructuring with charges of approximately $45 million in severance benefits costs (approximately 620 employees).

“estimates the expenses associated with the headcount reductions will result in annualized savings of approximately $130 million. The Company expects it will incur approximately $45 million in severance benefits costs related to restructuring and other charges related to these actions in fiscal year 2023. The Company will also reduce some of its leased facilities”

NEKTAR THERAPEUTICS announced a restructuring with charges of non-recurring cash payments of approximately $8 million affecting San Francisco-based workforce (approximately 60%).

“On April 17, 2023, the duly authorized officers of the “Company approved a new strategic reprioritization and cost restructuring plan (the “2023 Restructuring Plan”). Pursuant to the 2023 Restructuring Plan, the Company will undertake several cost-reduction actions to reduce costs, including a reduction in its San Francisco-based workforce by approximately 60% that is expected to be substantially completed by June 2023. In connection with these actions, the Company expects non-recurring cash payments of approximately $8 million primarily in the second quarter of 2023 associated principally with the workforce reduction, including one-time employee severance and termination payments.”

Tourmaline Bio, Inc. announced a restructuring with charges of approximately $5.8 million (approximately 80 additional employees, or approximately 95% of the Company's remaining workforce).

“the Company estimates it will incur cash-based severance and other employee termination-related costs of approximately $5.8 million in the second quarter of 2023 related to the April Reduction in Force”

Insight Molecular Diagnostics Inc. announced a restructuring with charges of approximately $0.3 million related to employee severance and benefits costs affecting workforce (approximately 20% of its workforce).

“On April 12, 2023, Oncocyte Corporation (the “Company” or “Oncocyte”) , announced a reduction in force involving approximately 20% of its workforce (the “Reduction”), which management believes will extend Oncocyte’s cash runway in 2024. In connection with the Reduction, Oncocyte estimates that it will incur charges of approximately $0.3 million related to employee severance and benefits costs in the second quarter of 2023.”

Spyre Therapeutics, Inc. announced a restructuring with charges of approximately $6.2 million (50 people, or approximately 83% of the Company’s existing headcount).

“headcount, retaining approximately 10 employees. The restructuring was communicated to employees on April 11, 2023. The Company estimates that it will incur approximately $6.2 million in employee-related restructuring charges in connection with the restructuring, consisting of (i) approximately $5.6 million in cash-based expenses related to employee severance”

INVACARE HOLDINGS Corp announced a restructuring with charges of approximately $1.7 million affecting North America segment (Sanford, Florida production and distribution facility) (approximately 90 associates in Florida).

“On April 5, 2023, Invacare Corporation (the “Company”) announced the decision to close its Sanford, Florida production and distribution facility, effective at the end of September 2023. The manufacturing and distribution activities currently conducted at the Sanford facility will be performed at other Company locations or by third parties. The consolidation is expected to impact approximately 90 associates in Florida. This decision is supportive of the Company’s transformation efforts and is part of the Company’s long-term plan to increase shareholder value by targeting significant contributions from cost reduction activities in North America. The Company expects to incur pre-tax cash restructuring charges of approximately $1.7 million in the North America segment, of which $0.9 million is expected to be incurred for severance and transition assistance and $0.8 million recognized for other closure-related costs.”

Pear Therapeutics, Inc. announced a restructuring with charges of approximately $1.2 million (approximately 170 employees, or 92% of full-time employees).

“On April 5, 2023, the Company's board of directions (the " Board ") authorized the termination of approximately 170 employees, or 92% of full-time employees effective April 7, 2023 and restructured the Company's operations to maintain a transition team of approximately 15 employees to continue operations in connection with the Chapter 11 Cases. All terminated employees were paid through April 7, 2023, received two weeks’ salary as severance and were asked to sign a separation agreement, which includes a general release of claims against the Company. The reduction in force was completed on April 6, 2022 and the Company recorded a one-time charge of approximately $1.2 million in the second quarter of 2023 related to the reduction in workforce, consisting primarily of one-time severance payments upon termination of the employees.”

Amplitude, Inc. announced a restructuring with charges of approximately $7 million to $9 million affecting global workforce (approximately 13%).

“to scale for the future, continue its path to profitability, and deliver on its long-term vision. The Company estimates that it will incur non-recurring charges of approximately $7 million to $9 million in connection with the Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related”

Vintage Wine Estates, Inc. announced a impairment with charges of approximately $10 million to $15 million affecting Layer Cake and ACE trademarks.

“an intangible asset impairment ranging from approximately $10 million to $15 million related to our Layer Cake and ACE trademarks”

Vintage Wine Estates, Inc. announced a impairment with charges of approximately $120 million to $130 million affecting Wholesale and Business-to-Business reporting units.

“we estimate a goodwill impairment ranging from approximately $120 million to $130 million related to our Wholesale and Business-to-Business reporting units”

NGM BIOPHARMACEUTICALS INC announced a restructuring with charges of approximately $5.0 million (75 people, or approximately 33% of the Company's existing headcount).

“approximately 33% of the Company’s existing headcount. The restructuring was communicated to employees on April 4, 2023. The Company estimates that it will incur approximately $5.0 million in restructuring charges in connection with the restructuring, consisting of (i) approximately $4.5 million in cash-based expenses related to employee severance and notice period”

PARDES BIOSCIENCES, INC. announced a restructuring with charges of $5.7 million affecting workforce (approximately 85%).

“On March 31, 2023, the Board of Directors (the Board) of the Company approved a reduction in workforce (the Plan) to align operations with the changes in the Company’s corporate strategy. Under the Plan, due to the Company’s decision to suspend its clinical development of pomotrelvir and winddown its research and development activities, the Company is reducing headcount by approximately 85% through a reduction in its workforce. The Plan will take place in phases, with the first reduction in force occurring in April 2023, and is anticipated to be completed in the second quarter of 2023. The total cost related to the Plan is estimated to be approximately $5.7 million, all of which is cash-based expenditures related primarily to personnel expenses such as salaries, one-time severance payments and other benefits.”

NEW RELIC, INC. announced a restructuring with charges of approximately $40 million to $45 million affecting global real estate footprint.

“On March 29, 2023, the Board of Directors of New Relic, Inc. (the "Company") committed to a restructuring plan in connection with reduction of its global real estate footprint in line with its Flex First philosophy. The Company expects to incur aggregate restructuring charges totaling approximately $40 million to $45 million, consisting primarily of real estate lease termination and other associated costs.”

FULLER H B CO announced a restructuring with charges of approximately $15.0 million to $20.0 million ($12.4 million to $16.4 million after-tax) affecting global.

“On March 27, 2023, the Company approved a restructuring plan (the “Plan”) related to organizational changes and other actions to optimize operations. In implementing the Plan, the Company currently expects to incur costs of approximately $15.0 million to $20.0 million ($12.4 million to $16.4 million after-tax), which includes (i) cash expenditures of approximately $13.8 million to $15.0 million ($11.1 million to $12.1 million after tax) for severance and related employee costs globally and (ii) other restructuring costs related to streamlining of processes and the payment of anticipated income taxes in certain jurisdictions related to the Plan.”

ROKU, INC announced a restructuring with charges of approximately $30 to $35 million (approximately 200 employees, approximately 6% of the Company's workforce).

“On March 29, 2023, Roku, Inc. (the “Company”) approved a restructuring plan (the “Plan”) to lower the Company’s year-over-year operating expense growth and prioritize projects that the Company believes will have a higher return on investment, which is expected to impact approximately 200 employees, approximately 6% of the Company’s workforce, and result in the exit and sublease, or cease use, of certain office facilities that the Company does not currently occupy. The Company estimates that it will incur non-recurring charges of approximately $30 to $35 million in connection with the Plan, primarily consisting of severance payments, notice pay, employee benefits contributions and related costs and impairment charges related to the exit and sublease, or cease use, of certain office facilities that the Company does not currently occupy.”

ELECTRONIC ARTS INC. announced a restructuring with charges of approximately $170 million to $200 million (approximately 6% of the Company's workforce).

“and headcount reductions impacting approximately 6% of the Company's workforce, in addition to office space reductions. The Company estimates that it will incur approximately $170 million to $200 million in charges in connection with the Plan. These charges consist primarily of approximately $65 million to $70 million in charges related to intellectual property”

AEye, Inc. announced a restructuring with charges of one-time restructuring charge in the first quarter of 2023, to be paid in cash in the second quarter, in the range of $0.6 to $1.0 million, primarily consisting affecting workforce (restructure and reduce its workforce by approximately one-third, effective April 3, 2023. The reduction-in-force impacts).

“the Company announced today, March 28, 2023, that it will restructure and reduce its workforce by approximately one-third, effective April 3, 2023. The revised strategic plan to be announced in May is also expected to include other significant operating expense reductions. The reduction-in-force impacts approximately 46 full-time and part-time employees and is expected to be completed early in the second quarter of 2023. The Company expects to incur a one-time restructuring charge in the first quarter of 2023, to be paid in cash in the second quarter, in the range of $0.6 to $1.0 million, primarily consisting of personnel expenses, such as one-time separation payments and other benefits.”

View, Inc. announced a restructuring with charges of approximately $5 million (approximately 170 employees, which represents approximately 23% of full-time employees).

“employee’s execution of a separation agreement, which includes a general release of claims against the Company. The Company expects to incur a one-time charge of approximately $5 million in the first quarter of 2023 related to the Plan, consisting primarily of one-time severance payments upon termination of the employees impacted by the reduction in workforce and”

Alector, Inc. announced a restructuring with charges of approximately $2.2 million affecting the organization (approximately 30 employees).

“multiple key clinical milestones for its prioritized late-stage programs. One-time restructuring charges associated with the reduction in force are expected to be approximately $2.2 million, primarily consisting of personnel expenses such as salaries, one-time severance payments, and other benefits. Cash payments related to these expenses will be paid out and the”

LendingTree, Inc. announced a restructuring with charges of approximately $5.6 million in severance charges (approximately 13% of the Company’s current workforce).

“On March 24, 2023, LendingTree, Inc. (the “Company”) committed to a workforce reduction plan (the “Reduction Plan”), that is intended to reduce operating costs. The Reduction Plan includes the elimination of approximately 13% of the Company’s current workforce. As a result of the Reduction Plan, the Company estimates that it will incur approximately $5.6 million in severance charges”

Warner Music Group Corp. announced a restructuring with charges of approximately $46 million on a pre-tax basis for severance payments and other related termination costs (approximately 270 people, or approximately 4% of the Company’s overall headcount).

“The Company expects to incur total non-recurring restructuring charges in this quarter of approximately $46 million on a pre-tax basis for severance payments and other related termination costs.”

Seagate Technology Holdings plc announced a restructuring with charges of $55 million to $65 million affecting multiple functions and locations throughout the Company, and include aligning its Lyve Edge-to-Cloud Mass Storage Platform business plan to near-term market conditions and reducing Lyve Cloud investme (approximately 480 employees, or 1% of the global headcount).

“challenges. Th is expan sion of the Plan is expected to be substantially completed by the end of the fiscal fourth quarter 2023 and result in total pre-tax charges between $55 million to $65 million, consisting of cash expenditures between $25 million to $30 million for employee termination costs and $5 million to $10 million for other related exit costs, as”

Lucid Group, Inc. announced a restructuring with charges of The Company estimates that it will incur a total of approximately $24 million to $30 million in charges in connection with the Plan, which consist primarily of affecting Entire workforce (global, all organizations and levels) (approximately 1,300 employees, or approximately 18%).

“On March 28, 2023, Lucid Group, Inc. (the “ Company ”) announced a restructuring plan (the “ Plan ”) intended to reduce the Company’s operating expenses in response to evolving business needs and productivity improvements through a reduction of the Company’s current employee workforce by approximately 1,300 employees, or approximately 18%. The Company expects to substantially complete the Plan by the end of the second quarter of 2023, subject to local law and consultation requirements. The Company estimates that it will incur a total of approximately $24 million to $30 million in charges in connection with the Plan, which consist primarily of charges related to employee transition, severance payments, employee benefits, and stock-based compensation. The Company expects that charges of approximately $22 million to $28 million will be recognized primarily in the first quarter of 2023, with the majority of such charges anticipated to be paid by the end of the second quarter of 2023. Subst”

Applied Molecular Transport Inc. announced a restructuring with charges of approximately $3 million affecting all functional areas (35 employees).

“On March 21, 2023, the board of directors (the “ Board ”) of Applied Molecular Transport Inc. (the “ Company ”) approved a reduction of the Company’s workforce by 35 employees across all functional areas of the Company, resulting in a total of 26 remaining full-time employees (the “ Workforce Reduction ”). The Workforce Reduction is intended to preserve capital by reducing the Company’s operating expenses. Affected employees will be offered customary separation benefits, including one time severance payments and payments to cover premiums for the continuation of healthcare coverage for a limited period of time. As a result of the Workforce Reduction, the Company estimates that it will incur approximately $3 million in costs primarily related to severance costs and related expenses and expects that the payments of these costs will be made through the end of the second quarter of 2023.”

Codiak BioSciences, Inc. announced a restructuring with charges of approximately $1,120,000 (thirty-four (34) employees, or 69%).

“The Company estimates that it will incur approximately $1,120,000 of costs in connection with the reduction in workforce related to severance pay and other related termination benefits.”

Jounce Therapeutics, Inc. announced a restructuring with charges of approximately $6.5 million (approximately 84% of its current employees).

“On March 26, 2023, the Company committed to a course of action that would result in a reduction in force intended to preserve the Company’s current cash resources. The Company will reduce its workforce by approximately 84% of its current employees. As a result of the reduction in force, the Company estimates that it will incur aggregate pre-tax charges of approximately $6.5 million, primarily consisting of salary payable during applicable notice periods and severance, non-cash stock-based compensation expense, and other benefits.”

Gamida Cell Ltd. announced a restructuring with charges of approximately $1.1 million (approximately 17%).

“On March 27, 2023, the Company announced a workforce reduction plan (the “ Plan ”), pursuant to which it plans to downsize its current workforce by approximately 17% by the end of the second quarter of 2023. The Plan is being enacted to help extend the Company’s financial resources through the third quarter of 2023, during which time the Company intends to allocate the vast majority of its resources to executing a launch of omidubicel, if approved. Affected employees will be offered separation benefits, including severance payments and temporary healthcare coverage assistance, which severance payments, in Israel, are required under applicable law. Each affected employee’s eligibility for the separation benefits is contingent upon such employee’s execution of a 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 $1.1 million and expects to record these charges pri”

PINTEREST, INC. announced a restructuring with charges of estimated $100.0 million to $125.0 million in charges, consisting primarily of $95.0 million to $110.0 million in non-cash impairment and abandonment charges re affecting office space reductions at 505 Brannan Street and other locations, and workforce reduction of approximately 4% (approximately 4% workforce reduction).

“cost structure and operating plan and may determine to take additional actions in the future in connection with the Plan. The Company estimates that it will incur approximately $100.0 million to $125.0 million in charges in connection with the Plan. These charges consist primarily of $95.0 million to $110.0 million in non-cash impairment and abandonment charges”