Restructurings & Charges

AMC Global Media Inc. announced a restructuring with charges of strategic programming assessments and organizational restructuring costs affecting Content and organizational restructuring (severance, retention and other costs).

“On November 28, 2022, AMC Networks Inc. (the “Company”) commenced a restructuring plan (the “Plan”) designed to achieve significant cost reductions , in light of “cord cutting” and the related impacts being felt across the media industry as well as the broader economic outlook. The Plan encompasses initiatives that will include, among other things, strategic programming assessments and organizational restructuring costs . As a result of the Plan, the programming assessments pertain to a broad mix of owned and licensed content, including legacy television series and films that will no longer be in active rotation on the Company’s linear or digital platforms. The Company may realize some future licensing and other revenue associated with some of the owned titles. The Company estimates it will incur approximately $350 million to $475 million in pre-tax restructuring charges comprised of: • strategic programming assessments leading to content charges of approximately $300 million to $400 m”

ACCURAY INC announced a restructuring with charges of approximately $2.0 million (approximately 4.5 percent of its global workforce).

“On December 1, 2022, Accuray Incorporated (the “Company”) informed affected employees of a cost saving initiative designed to reduce operating costs through the elimination of approximately 4.5 percent of its global workforce. The Company expects to substantially complete the cost saving initiative in the second quarter of fiscal 2023. The Company estimates the total cost of this initiative to be approximately $2.0 million, which is expected to be recorded in the second quarter of fiscal 2023.”

OMNICELL, INC. announced a restructuring with charges of approximately $17.0 million (approximately 350 employees).

“On November 23, 2022, Omnicell, Inc. (the “Company”) committed to a plan to reduce the Company’s headcount (the “ Plan”) as part of the Company’s expense containment efforts being implemented due to ongoing macro-economic headwinds. The Company expects to reduce its workforce across a majority of its functions affecting approximately 350 employees, representing approximately 9% of the Company’s workforce . In connection with the Plan, the Company estimates that it will incur approximately $17.0 million of nonrecurring restructuring and related charges.”

Elastic N.V. announced a restructuring with charges of approximately $32 million to $36 million (approximately 13%).

“On November 30, 2022, the Company committed to a plan to align its investments more closely with its strategic priorities by reducing the Company’s workforce by approximately 13% and implementing certain facilities-related cost optimization actions. Pursuant to this plan, Elastic intends to rebalance investments across all functions and to strategically reinvest some savings in key priority areas to drive growth. The Company expects to incur total pre-tax non-recurring charges of approximately $32 million to $36 million under the plan of which estimated charges in the range of $25 million to $28 million will consist of employee-related costs, including severance and other termination benefits, with the remaining costs related to the optimization of office space.”

SQZ Biotechnologies Co announced a restructuring with charges of total expenses of approximately $5 million (workforce reduction of approximately 60 percent).

“As part of the prioritization decision, the SQZ Biotechnologies Board of Directors approved a restructuring plan which includes a workforce reduction of approximately 60 percent. The company expects to incur total expenses of approximately $5 million as a result of the restructuring plan”

SYNLOGIC, INC. announced a restructuring with charges of approximately $0.8 million (approximately 25% of its workforce).

“On November 28, 2022, the board of directors of Synlogic, Inc. (the “Company”), following a strategic review of its business, approved, and its management is implementing, a reduction in workforce, designed to focus resources on advancing the Company’s clinical stage programs and prioritized preclinical research programs. The realignment is estimated to reduce the Company’s workforce by approximately 25%. The Company estimates that it will incur approximately $0.8 million of costs in connection with the reduction in workforce related to severance pay and other related termination benefits.”

GSI TECHNOLOGY INC announced a restructuring with charges of $850,000 in termination costs (an approximate 15% decrease in the Company's global workforce).

“On November 30, 2022, the Board of Directors of GSI Technology, Inc. (the “Company”) approved and ratified a series of strategic cost reduction initiatives intended to better align the Company’s operational structure with its near-term and long-term goals (the “Cost Reduction Initiatives”). The Company expects the Cost Reduction Initiatives to be completed by mid-2023. The Cost Reduction Initiatives are expected to reduce the Company’s operating expenses by approximately $7.0 million on an annualized basis, primarily as a result of an approximate 15% decrease in the Company’s global workforce, salary decreases for certain retained employees, as well as targeted reductions in research and development spending. In connection with the Cost Reduction Initiatives, the Company anticipates incurring $850,000 in termination costs, including the payout of accrued vacation, which will require cash expenditures, most of which are expected to be incurred in the current fiscal year.”

Sana Biotechnology, Inc. announced a restructuring with charges of approximately $7.9 million of cash-based expenses related to employee severance, benefits and related costs; and approximately $2.2 million non-cash stock-based (approximately 15%).

“On November 29, 2022, Sana Biotechnology, Inc. (“Sana”) issued a press release announcing a portfolio prioritization and corporate restructuring designed to optimize development of its programs at or nearing clinical development, to continue investments in its core research platforms and innovation, and to maintain a strong balance sheet with an expected cash runway into 2025. As part of the prioritization and restructuring, Sana will reduce its workforce by approximately 15% by the end of 2022. In connection with the restructuring, Sana anticipates it will incur approximately $7.9 million of cash-based expenses related to employee severance, benefits and related costs, primarily in the fourth quarter of 2022, when it anticipates that the restructuring will be substantially complete. In addition, Sana expects to record a non-cash stock-based compensation charge of approximately $2.2 million related to modification of equity awards for employees impacted by the restructuring.”

HP INC announced a restructuring with charges of approximately $1.0 billion (approximately 4,000 – 6,000 employees).

“HP anticipates incurring approximately $1.0 billion in restructuring and other charges due to both labor and non-labor actions, approximately $0.8 billion of which is expected to be cash expenditures. Of the $1.0 billion, HP expects to incur approximately $0.7 billion in labor costs related to workforce reductions of approximately 4,000 – 6,000 employees by the end of fiscal 2025.”

TELEFLEX INC announced a restructuring with charges of $31 million to $40 million.

“On November 15, 2022, Teleflex Incorporated (the “Company”) initiated a strategic restructuring plan designed to improve operating performance and position the organization to deliver long-term durable growth by creating efficiencies that align with the Company’s high growth strategic objectives (the “2022 restructuring plan”). The plan, which was developed to offset increasing cost and inflationary pressures in the healthcare industry, primarily involves the relocation of certain manufacturing operations to existing lower-cost locations in addition to the streamlining of various business functions across the organization and related workforce reductions. These actions are expected to be substantially completed during 2023. The Company estimates that it will incur aggregate pre-tax restructuring and restructuring related charges in connection with the 2022 restructuring plan of $31 million to $40 million, most of which the Company expects to incur in 2023.”

DUCOMMUN INC /DE/ announced a restructuring with charges of between $9 and $12 million affecting performance center in Monrovia, California.

“On November 17, 2022, the Board of Directors (the “Board”) of Ducommun Incorporated (the “Company”) approved the closure of the Company’s performance center in Monrovia, California in order to further optimize and consolidate the Company’s footprint. The Company expects this to be the final footprint consolidation under the Company’s 2022 Restructuring Plan. The Company intends to cease production and close the facility by the middle of 2023, and is evaluating options to divest the underlying real estate. Existing production will be absorbed by the Company’s other existing performance centers. As a result of the closure, the Company currently estimates total pre-tax charges will be between $9 and $12 million.”

Rubicon Technologies, Inc. announced a restructuring with charges of approximately $600,000 (approximately 11%).

“On November 15, 2022, the Board of Directors of Rubicon Technologies, Inc. (the “Company”) committed to a reduction in force plan (the “Plan”) as part of the Company’s measures to reduce spending and preserve cash available for the Company’s operations. The Plan involves a reduction in the Company’s current workforce by approximately 11%. The Company currently estimates that it will incur one-time cash charges of approximately $600,000, primarily consisting of an estimated $500,000 in severance payments, and $100,000 in related costs.”

ROKU, INC announced a restructuring with charges of approximately $28 to $31 million (approximately 200 employee positions in the United States).

“On November 17, 2022, Roku, Inc. (the “Company”) approved a plan to reduce the Company’s headcount expenses by a projected 5% to slow down the Company’s 2023 operating expense growth rate due to current economic conditions. This will affect approximately 200 employee positions in the United States. The Company estimates that it will incur non-recurring charges of approximately $28 to $31 million in connection with the headcount reductions, primarily consisting of severance payments, notice pay (where applicable), employee benefits contributions and related costs.”

CISCO SYSTEMS, INC. announced a restructuring with charges of approximately $600 million.

“On November 16, 2022, Cisco announced a restructuring plan in order to rebalance the organization and enable further investment in key priority areas. This rebalancing will include talent movement options and restructuring. Additionally, Cisco will optimize its real estate portfolio, aligned to the broader hybrid work strategy. Cisco will take action under this plan beginning in the second quarter of fiscal 2023. Cisco currently estimates that it will recognize pre-tax charges to its GAAP financial results of approximately $600 million consisting of severance and other one-time termination benefits, real estate-related charges, and other costs.”

Vinco Ventures, Inc. announced a restructuring with charges of approximately $48 thousand (39 employees (approximately 65%)).

“On November 11, 2022, the management of Vinco Ventures, Inc. (the “Company”) executed a Board-approved reduction-in-force plan to reduce operating costs and better align its workforce expenses with the needs of its business. Under this plan, the Company reduced its workforce by 39 employees (approximately 65%). The Company expects that the workforce reduction will decrease its annual operating costs by approximately $4.9 million. In connection with the restructuring, the Company estimates that it will incur aggregate restructuring charges of approximately $48 thousand, which will be recorded in the fourth quarter of 2022, related to one-time employee-related benefit costs.”

Quotient Technology Inc. announced a restructuring with charges of approximately $2 million affecting United States, United Kingdom, and India across all functions (approximately 82 employees).

“On November 15, 2022, Quotient Technology Inc. (“Quotient”) initiated a workforce reduction plan in connection with its ongoing business transformation efforts. Quotient will reduce its workforce in the United States, United Kingdom, and India across all functions by approximately 82 employees. This represents a reduction of approximately nine percent (9%) of Quotient’s regular full-time global workforce and approximately fourteen percent (14%) of Quotient’s U.S.-based workforce. In connection with this plan, Quotient estimates that it will recognize total pre-tax restructuring charges to its GAAP financial results in the approximate amount of $2 million consisting of severance and other one-time termination benefits.”

SHIFT TECHNOLOGIES, INC. announced a restructuring with charges of Total $ 29,194 affecting 7 inventory inspection, reconditioning, and storage facilities, or hubs (approximately 60%).

“on early decommissioning of capitalized internal-use software 6,498 Severance, retention, and CEO transition 3,667 Labor and other costs incurred to close hubs 4,901 Total $ 29,194 Of the charges detailed in the table above, $0.9 million is expected to result in future cash expenditures as of the date of this filing. 1 SIGNATURE Pursuant to the requirements”

Rafael Holdings, Inc. announced a restructuring with charges of approximately $0.5 million affecting early-stage development efforts, including pre-clinical research at the Barer Institute.

“On November 9, 2022, the Board of Directors of Rafael Holdings, Inc. (the “Company”) resolved to curtail its early-stage development efforts, including pre-clinical research at the Barer Institute. The decision was taken to reduce spending as the Company focuses on exploring strategic opportunities. The Company expects to incur severance charges in the amount of approximately $0.5 million.”

Asana, Inc. announced a restructuring with charges of $9-$11 million affecting global headcount (approximately 9%).

“On November 15, 2022, Asana, Inc. (the “Company”) authorized a plan to reduce its global headcount by approximately 9%. This plan was adopted as part of a restructuring intended to improve operational efficiencies and operating costs and better align the Company’s workforce with current business needs, top strategic priorities, and key growth opportunities. The Company estimates that it will incur non-recurring charges of approximately $9-$11 million in connection with the headcount reductions, primarily related to cash expenditures for employee transition, notice period and severance payments, employee benefits, and related facilitation costs as well as non-cash expenditures related to the vesting of share-based awards.”

Pear Therapeutics, Inc. announced a restructuring with charges of approximately $2.6 million of cash based expenses related to employee severance, benefits, and related costs, and a stock-based compensation charge of between $ affecting workforce (approximately 59 employees).

“On November 14, 2022, due to the worsening macroeconomic environment, the Board of Directors of the Company approved a reduction in the Company's workforce by approximately 59 employees, representing approximately 22% of the Company's total workforce as of September 30, 2022. The reduction in workforce is intended to reduce operating expenses. In connection with the reduction in force, the Company estimates it will incur approximately $2.6 million of cash based expenses related to employee severance, benefits, and related costs, primarily in the fourth quarter of 2022, when it anticipates that the reduction in workforce will be substantially complete. In addition, the Company expects to record a stock-based compensation charge of between $0.3 million and $0.9 million and corresponding payroll tax expense related to modifications of equity awards for employees impacted by the reduction in workforce, subject to local law and consultation requirements, which could extend the process into”

GeneDx Holdings Corp. announced a restructuring affecting reproductive and women’s health testing business (carrier screening, noninvasive prenatal, and other ancillary reproductive testing offerings) (approximately 500 positions, representing approximately 32.5% of its workforce).

“On November 14, 2022, the Company announced its plan to pursue a new strategic direction focused on the Company’s pediatric and rare disease testing business coupled with the Company's Centrellis data platform. As part of the Company’s strategic realignment, on November 11, 2022, the board of directors of the Company unanimously approved the Company’s exit from the reproductive and women’s health testing business, which includes carrier screening, noninvasive prenatal, and other ancillary reproductive testing offerings (the "RH Business"). Prior to the decision to exit the RH Business, the Company performed a thorough review of a number of factors including the competitive landscape, recent shifts in payor coverage and reimbursement, declining average selling prices, and cost structure, and consideration of existing capital markets constraints and the macroeconomic climate, and concluded that the RH Business is currently unsustainable and cannot be restructured in way that will allow t”

UiPath, Inc. announced a restructuring with charges of approximately $30 million (approximately 6% of the Company’s global workforce of approximately 4,025 as of October 31, 2022).

“On November 10, 2022, UiPath’s Board approved further restructuring actions (in addition to those restructuring actions announced in a Current Report on Form 8-K filed on June 27, 2022 (the “June 8-K”)). These actions are expected to include an additional reduction across functions of approximately 6% of the Company’s global workforce of approximately 4,025 as of October 31, 2022, with most of these reductions expected to occur by the end of fiscal year 2023. Worldwide, the Company expects the workforce reductions to comply with applicable laws including consultation requirements. This workforce reduction will further support the Company’s strategic positioning designed to increase execution velocity, operational efficiency, and customer centricity. Including charges recognized in the third quarter of fiscal year 2023 and charges anticipated to be recognized in the fourth quarter of fiscal year 2023, the Company now expects total restructuring expenses of approximately $30 million (the”

Cardlytics, Inc. announced a restructuring with charges of approximately $1.1 million (51 employees).

“On November 8, 2022, Cardlytics, Inc. (the “Company”) committed to and effectuated a plan of termination of 51 employees. This decision was based on cost-reduction initiatives intended to reduce operating expenses and allow the Company to focus on key growth priorities. The Company currently estimates that it will incur charges of approximately $1.1 million in connection with the reduction in force, primarily consisting of severance payments, employee benefits and related costs.”

NexImmune, Inc. announced a restructuring with charges of approximately $0.7 million affecting Company (reduce the Company’s workforce from 74 full-time employees as of September 30, 2022 to approximately 50 full-time employ).

“On November 14, 2022 , NexImmune, Inc. (the “Company”) announced that, following a strategic review of its pipeline, indications, timelines and cash position, its Board of Directors approved and its management is implementing a strategic realignment initiative and corresponding reduction in workforce, designed to reduce costs and reallocate resources towards its preclinical development programs based on its proprietary Artificial Immune Modulation, or AIM TM , technology. The realignment would reduce the Company’s workforce from 74 full-time employees as of September 30, 2022 to approximately 50 full-time employees. The Company estimates that it will incur approximately $0.7 million of costs in connection with the reduction in workforce related to severance pay and other related termination benefits.”

RGC RESOURCES INC announced a impairment with charges of approximately $15.3 million affecting Mountain Valley Pipeline, LLC.

“On November 14, 2022, Midstream concluded an impairment charge is required. Midstream has recorded a pre-tax loss of approximately $15.3 million (or $11.3 million, after tax) that reduced the carrying value of its investment in the LLC from $29.0 million to $13.8 million.”

AVON PRODUCTS INC announced a impairment with charges of $35.0 million to $40.0 million affecting fixed assets related to Suffern facility closure.

“Avon is also performing an impairment analysis over fixed assets and, as a result, expects to record a potential impairment charge in the range of $35.0 million to $40.0 million.”

AVON PRODUCTS INC announced a restructuring with charges of approximately $39.0 million affecting research and development facilities in Suffern, New York, relocated to Brazil and Poland.

“development activities to Brazil and Poland. Avon expects to incur non-recurring restructuring costs in connection with the closure and relocation in the amount of approximately $39.0 million, to be incurred in the fiscal years ending December 31, 2022, 2023, 2024 and 2025 and capital expenditures relating to the infrastructure and facilities in Brazil and Poland”

Blend Labs, Inc. announced a restructuring with charges of approximately $2.8 million affecting title operations (approximately 100 positions across the Company, or approximately 6.4% of the Company’s current workforce).

“On November 9, 2022, the Company committed to a third workforce reduction plan (the “November Plan”) in addition to the workforce reduction plans disclosed on April 18, 2022 and August 15, 2022. The focus of the November Plan is on further streamlining the Company’s title operations in alignment with changing market conditions. The November Plan includes the elimination of approximately 100 positions across the Company, or approximately 6.4% of the Company’s current workforce. The Company estimates that it will incur approximately $2.8 million in charges in connection with the November Plan, consisting of cash expenditures for severance payments, employee benefits, payroll taxes and related facilitation costs.”

CarLotz, Inc. announced a impairment with charges of $1.0 million to $1.3 million affecting Chesapeake, VA; Denver, CO; and Huntsville, AL hubs.

“one-time non-cash charges of $1.0 million to $1.3 million associated with the impairment of other fixed assets”

CarLotz, Inc. announced a impairment with charges of $300,000 to $800,000 affecting Chesapeake, VA; Denver, CO; and Huntsville, AL hubs.

“one-time non-cash charges of $300,000 to $800,000 associated with the impairment of lease assets”

CarLotz, Inc. announced a restructuring with charges of approximately $100,000 affecting Chesapeake, VA; Denver, CO; and Huntsville, AL hubs.

“The Company expects to incur 1) one-time severance costs of approximately $100,000, 2) one-time non-cash charges of $300,000 to $800,000 associated with the impairment of lease assets, and 3) one-time non-cash charges of $1.0 million to $1.3 million associated with the impairment of other fixed assets.”

SURGALIGN HOLDINGS, INC. announced a restructuring with charges of total estimated restructuring cost of approximately $5.5 – $7.0 million affecting Digital Health and core hardware assets.

“and $2.5 – $3.5 million in other exit and disposal costs during the fourth quarter of 2022 and first quarter of 2023 for a total estimated restructuring cost of approximately $5.5 – $7.0 million. Estimated cash savings are expected to be realized throughout 2023. Efforts to raise additional capital from fundraising initiatives are currently underway to”

NeueHealth, Inc. announced a restructuring (restructure its workforce and reduce expenses).

“On November 4, 2022, the Board of Directors (the “Board”) of the Company approved a plan to restructure its workforce and reduce expenses based on the Company's updated business model.”

Invitae Corp announced a restructuring with charges of approximately $170 million in cash and non-cash charges affecting core genome sequencing and genome management platforms.

“As disclosed in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, as filed with the Commission on November 8, 2022, the Company expects that its strategic realignment plan will be completed by September 30, 2023, and estimates that total costs related to the realignment plan will be approximately $170 million in cash and non-cash charges, including employee severance and benefits expenses, losses on asset disposals and other restructuring costs.”

RingCentral, Inc. announced a restructuring with charges of approximately $10.0 million to $15.0 million (approximately 10%).

“expected to reduce the Company’s full-time employees by approximately 10%. The Company estimates the aggregate restructuring costs associated with the Plan to be approximately $10.0 million to $15.0 million, primarily consisting of severance payments, employee benefits and related costs. The Company expects to incur these charges in the fourth quarter of 2022 and”

Fast Radius, Inc. announced a restructuring with charges of approximately $200,000 (approximately 20% of the Company’s workforce).

“On November 3, 2022, the Company’s board of directors (the “Board”) approved a reduction in force of approximately 20% of the Company’s workforce in order to reduce the Company’s operating expenses. The reduction in force is part of the Company’s restructuring efforts. The Company expects the reduction in force to be substantially complete in November 2022. In connection with the reduction in force, the Company incurred approximately $200,000 in expenses, substantially all of which are related to employee severance and other termination benefits.”

Akebia Therapeutics, Inc. announced a restructuring with charges of approximately $1.8 million affecting commercial organization (approximately 14%).

“be offered separation benefits, including severance payments, healthcare coverage and related benefits. The Company expects to record a restructuring charge of approximately $1.8 million primarily related to one-time and contractual termination benefits including severance, non-cash stock-based compensation expense, healthcare and related benefits in the fourth”

Zendesk, Inc. announced a restructuring with charges of approximately $28 million affecting workforce (approximately 300 employees).

“initiatives intended to reduce operating expenses and sharpen Zendesk’s focus on key growth priorities. Zendesk currently estimates that it will incur charges of approximately $28 million in connection with the reduction in force, primarily consisting of severance payments, employee benefits and related costs. Zendesk expects that approximately $8 million of”

EVERBRIDGE, INC. announced a restructuring with charges of approximately $30 million to $33 million.

“On November 2, 2022, the Board of Directors of the Company approved an amendment to the 2022 Strategic Realignment program to include additional targeted realignment and reduction of headcount and other third-party spend. Overall, the 2022 Strategic Realignment charges will result in future cash expenditures of approximately $30 million to $33 million.”

NS Wind Down Co., Inc. announced a restructuring with charges of between approximately $3.0 million and $4.0 million affecting global workforce (approximately 10% of the Company's global workforce).

“create a more streamlined organization to support its business. In connection with the reduction in force, the Company currently estimates it will incur between approximately $3.0 million and $4.0 million of costs, consisting primarily of cash severance costs, which the Company expects to recognize in the fourth quarter of 2022. The Company expects to”

LiveRamp Holdings, Inc. announced a restructuring with charges of approximately $5 million of restructuring and related charges primarily related to employee severance and benefits costs and approximately $14 million to $17 mi (approximately 10% of our full-time employees).

“our business processes. These actions are expected to result in annualized operating expense savings of $30 million to $35 million. We estimate that we will incur approximately $5 million of restructuring and related charges primarily related to employee severance and benefits costs and approximately $14 million to $17 million of charges related to the real estate”

Lyft, Inc. announced a restructuring with charges of restructuring and related charges related to employee severance and benefits costs affecting entire company (termination of approximately 683 employees, representing 13% of the Company’s employees).

“On November 3, 2022, the Company committed to a plan of termination as part of the Company’s efforts to reduce operating expenses and adjust cash flows as described in Item 2.02 above. The plan involves the termination of approximately 683 employees, representing 13% of the Company’s employees. In connection with the plan of termination, the Company estimates that it will incur approximately $27 million to $32 million of restructuring and related charges related to employee severance and benefits costs, which the Company expects to incur in the fourth quarter of 2022.”

Home Bistro, Inc. /NV/ announced a restructuring affecting kitchen facility at Pembroke Pine, Florida.

“On October 28, 2022, Home Bistro, Inc. (the “Company”) made the decision to close its kitchen facility at Pembroke Pine, Florida as part of a strategic review of its business.”

iBio, Inc. announced a restructuring with charges of approximately $1.7 million affecting Company-wide (workforce reduction primarily located at cGMP facility in Bryan, Texas) (approximately 60% of the current Company staffing levels).

“2023, although there is no assurance as to when, or for how much, the Company may be able to sell its CDMO assets. The Company expects to incur pre-tax charges of approximately $1.7 million for the employee reduction, most of which is expected to be incurred in the second and third quarter of fiscal year 2023. These charges will be substantially settled in cash and”

OLD MARKET CAPITAL Corp announced a restructuring with charges of between $11.1 million and $12.4 million affecting 34 of its 36 branches (approximately 173 employees, representing 82% of the Company workforce).

“the Board of Directors of the Company determined on November 3, 2022 to close 34 of its 36 branches. Consolidation of workforce associated with these closures is expected to impact approximately 173 employees, representing 82% of the Company workforce as of such date. The expected total charges are between $11.1 million and $12.4 million”

Rubius Therapeutics, Inc. announced a restructuring with charges of approximately $4.4 million (42 of its employees (representing 82% of its current employee base)).

“On November 2, 2022, Rubius Therapeutics, Inc. (the “Company”) announced that, in light of the Company’s financial condition, including the recently disclosed repayment and termination of its $75 million credit facility with SLR Investment Corp., and the early stage of its programs, its Board of Directors (the “Board”) approved a plan to review strategic alternatives, including a sale or merger of the Company or one or more sales of its assets, and to significantly and immediately reduce its operations (the “Plan”). In connection with this Plan, the Company has terminated 42 of its employees (representing 82% of its current employee base), leaving a core team of individuals to lead the strategic review process. The Company expects that these measures will reduce its operating expenses with the goal of allowing the Company to pursue any viable strategic alternatives. As a result of the Plan, the Company estimates that it will incur charges of approximately $4.4 million in the fourth qua”

Evofem Biosciences, Inc. announced a restructuring with charges of The Company estimates that it will incur aggregate pre-tax charges of approximately $0.7 million in connection with the reduction in force, primarily consisting affecting workforce (45 employees).

“On November 1, 2022, the Board of Directors of Evofem Biosciences, Inc. (the "Company") approved a reduction in force intended to conserve the Company's current cash resources. The Company will reduce its current workforce by 45 employees. The Company expects annualized future cost savings from the reduction in force to be approximately $11.0 million, which the Company intends to use to support its operations. The Company estimates that it will incur aggregate pre-tax charges of approximately $0.7 million in connection with the reduction in force, primarily consisting of notice period and severance payments, employee benefits and related costs. The Company expects that the reduction in force will be complete by the end of November 2022 and that these one-time charges will be incurred in the fourth quarter of 2022.”

SiriusPoint Ltd announced a restructuring with charges of approximately $30.0 million to $35.0 million affecting international branch network (offices in Hamburg, Miami, Singapore, and reduced footprint in Liege and Toronto).

“The Company's initial estimate is that it will incur approximately $30.0 million to $35.0 million of total costs, primarily in the fourth quarter of 2022, to implement the Restructuring Plan.”

DENTSPLY SIRONA Inc. announced a impairment with charges of between $1.0 billion and $1.3 billion affecting goodwill and intangible assets.

“The Company estimates that the pre-tax non-cash goodwill and intangible assets impairment charge will be between $1.0 billion and $1.3 billion.”

ECOLAB INC. announced a restructuring with charges of $130 million ($110 million after tax) affecting Europe.

“On November 1, 2022, Ecolab announced a Europe cost savings program that is expected to be completed by mid-2024. The Company expects to incur pre-tax charges of $130 million ($110 million after tax), beginning with approximately $60 million of pre-tax charges in the fourth quarter of 2022. The Europe Program charges are expected to be primarily cash expenditures related to severance and asset disposals.”