Restructurings & Charges

Luminar Technologies, Inc./DE announced a restructuring with charges of estimates that it will incur approximately $2.5 million to $3.0 million in cash charges associated with employee severance and related employee costs affecting workforce reduction (reduce its workforce by approximately 30%).

“On December 18, 2025, Luminar Technologies, Inc. (the “Company”), committed to a plan to further reduce its workforce by approximately 30% in order to reduce operating costs. The reduction will commence immediately and is expected to be substantially completed by the first quarter of 2026. The Company estimates that it will incur approximately $2.5 million to $3.0 million in cash charges associated with employee severance and related employee costs, to be incurred primarily in the first quarter of 2026.”

IMMUCELL CORP /DE/ announced a impairment with charges of approximately $2.3 million affecting production of Re-Tain ®.

“ImmuCell Corporation (“ImmuCell”) has announced strategy changes (see Item 8.01 below) that will result in a material charge for a non-cash impairment write-down of certain property, plant and equipment (primarily equipment) during the fourth quarter of 2025. The affected assets are ones relating to the production of Re-Tain ®. Some but not all of those assets will now be repurposed to manufacture First Defense ®. ImmuCell presently estimates the non-cash impact to profit to be approximately $2.3 million (subject to adjustment pursuant to review of alternate purposing and net realizable value to be completed as part of the financial closing for the quarter and year ending December 31, 2025).”

WillScot Holdings Corp announced a restructuring with charges of unit disposal costs requiring future cash expenditures estimated to be approximately $40 million to $50 million affecting branch network consisting of approximately 400 physical properties.

“Significant costs associated with the Network Optimization Plan include non-cash accelerated depreciation of approximately $303 million (after consideration of scrap proceeds of approximately $8 million) recorded in the fourth quarter of 2025 and unit disposal costs requiring future cash expenditures estimated to be approximately $40 million to $50 million recorded in future periods as the units are disposed through 2029.”

WillScot Holdings Corp announced a restructuring with charges of non-cash accelerated depreciation of approximately $303 million (after consideration of scrap proceeds of approximately $8 million) affecting branch network consisting of approximately 400 physical properties.

“Significant costs associated with the Network Optimization Plan include non-cash accelerated depreciation of approximately $303 million (after consideration of scrap proceeds of approximately $8 million) recorded in the fourth quarter of 2025 and unit disposal costs requiring future cash expenditures estimated to be approximately $40 million to $50 million recorded in future periods as the units are disposed through 2029.”

KEY TRONIC CORP announced a restructuring with charges of approximately $4.8 million to $5.8 million affecting China-based operations (approximately $1.1 million in severance-related expenses).

“with respect to the Plan related to the transfer, disposal, and write-off of certain existing inventory, fixed assets, deferred taxes, and other assets totaling approximately $4.8 million to $5.8 million. In accordance with paragraph (d) of Item 2.05, the Company will provide further details by amendment to this Current Report on Form 8-K at such time it is able”

COTY INC. announced a impairment with charges of approximately $200 million.

“In connection with the entry into the Agreement, as discussed under Item 1.01 of this Current Report on Form 8-K, the Company expects to record a material non-cash impairment charge in the second quarter ended December 31, 2025 in an estimated amount of approximately $200 million.”

ACCURAY INC announced a restructuring with charges of approximately $11 million (approximately 15 percent of the Company's global workforce).

“elements of the transformation plan are estimated at approximately $5.6 million, most of which will also be in cash, resulting in total restructuring charges of approximately $11 million, which charges are expected to be recorded in the second, third and fourth quarters of fiscal year 2026. --- EX-99.1 (EX-99.1) --- EX-99.1 EXHIBIT 99.1 Accuray announces first”

GERON CORP announced a restructuring with charges of approximately $18 million affecting the entire company (approximately one-third of its current approximately 260 employees).

“affected employees on December 16, 2025, and expects the RIF to be substantially complete in the first quarter of 2026. The Company estimates that it will incur approximately $18 million in restructuring and restructuring-related charges, consisting primarily of one-time employee severance payments, healthcare and related benefits, and other employee-related”

WESTLAKE CORP announced a restructuring with charges of approximately $415 million affecting North American chlorovinyl production facilities and styrene production plant (approximately 295 employees).

“The closures of the facilities are expected to result in a workforce reduction of approximately 295 employees. The Company expects it will incur total pre-tax costs of approximately $415 million related to the closures of the facilities consisting of noncash accelerated depreciation, amortization, and asset write-off charges of approximately $357 million, employee severance and separation costs of approximately $25 million, and other plant shut down costs of approximately $33 million.”

FORD MOTOR CO announced a impairment with charges of about $8.5 billion affecting Ford Model e segment.

“As a result, we concluded that our Ford Model e segment long-lived assets are impaired. In addition, we will write down certain other long-lived assets related to the canceled EVs. The aggregate expected pre-tax write-down is estimated to be about $8.5 billion, which will be recognized in the fourth quarter of 2025.”

FORD MOTOR CO announced a impairment with charges of about $3 billion affecting BlueOval SK, LLC.

“As a result of Ford’s entry into the Joint Venture Disposition Agreement, on December 9, 2025, we concluded that we will recognize a charge related to our share of BOSK’s long-lived asset impairment and the impairment of our remaining investment in BOSK. The aggregate expected pre-tax charge is estimated to be about $3 billion, which will be recognized in the fourth quarter of 2025.”

ZEBRA TECHNOLOGIES CORP announced a restructuring with charges of up to $80 million of one-time pre-tax charges, inclusive of non-cash asset impairment charges of approximately $60 million affecting robotics automation solutions business.

“On December 9, 2025, in an effort to realign resources to efficiently support its strategic priorities, Zebra Technologies Corporation (the “Company”) determined that it would dispose or exit of its robotics automation solutions business. The Company expects to incur up to $80 million of one-time pre-tax charges, inclusive of non-cash asset impairment charges of approximately $60 million in the fourth quarter of fiscal year 2025.”

Semler Scientific, Inc. announced a restructuring with charges of approximately $1.2 million consisting of one-time termination benefits (approximately 37%).

“the headcount reduction, which are expected to be realized beginning in January 2026. Semler Scientific currently estimates that it will incur severance costs of approximately $1.2 million consisting of one-time termination benefits, which are expected to be paid in December 2025 and January 2026. The charges Semler Scientific expects to incur in connection with”

FMC CORP announced a restructuring with charges of approximately $560 to $635 million affecting Manufacturing Restructuring Program and cost-reduction initiatives in Asia.

“The Company expects to incur pre-tax restructuring charges over the life of the program in the range of approximately $560 to $635 million, which is subject to future changes, in connection with these efforts.”

Trinseo PLC announced a restructuring with charges of $30 million to $40 million affecting polystyrene ("PS") production operations in Schkopau, Germany with consolidation of remaining PS operations in Tessenderlo, Belgium.

“Germany with consolidation of remaining PS operations in Tessenderlo, Belgium (the “PS Restructuring Plan”). The Company expects to record total pre-tax restructuring charges of $30 million to $40 million, principally comprised of $3 million to $5 million of employee-related costs, $10 million to $14 million of asset-related charges and $15 million to $21 million”

Elanco Animal Health Inc announced a restructuring with charges of approximately $175 million affecting global headcount reduction and closure of Kansas City, Missouri implant facility and exit from portion of Monheim, Germany facility (approximately 300 employees, plus an approximate 300 employees whose positions will be replaced).

“On December 5, 2025, the Board of Directors of Elanco Animal Health Incorporated (the “Company”) authorized a restructuring plan with respect to its workforce (the “Restructuring Plan”) to support margin expansion, optimize the Company’s footprint, and further invest in innovation. The Restructuring Plan will result in a global headcount reduction of approximately 300 employees, plus an approximate 300 employees whose positions will be replaced with positions in growth areas or in lower-cost geographies. Expected pretax charges associated with the Restructuring Plan total approximately $175 million, the majority of which will be incurred in 2025, including an estimated $130 million of cash-based costs, most of which is expected to be paid in the next 2 years, and an estimated $45 million of non-cash asset impairment charges primarily related to the Company’s closure of its Kansas City, Missouri implant facility and exit from a portion of its Monheim, Germany facility.”

Domtar CORP announced a restructuring with charges of approximately $60 million affecting Crofton, British Columbia, facility (approximately 350 employees).

“On December 2, 2025, Domtar Corporation (“Domtar”) announced that it will permanently close operations at its Crofton, British Columbia, facility. The decision will reduce Domtar’s annual pulp production by approximately 380,000 air-dried metric tons of northern bleached softwood kraft (NBSK) pulp. The announcement will affect approximately 350 employees. The closure is expected to result in an aggregate pre-tax earnings charge of approximately $60 million, including an estimated $19 million in cash charges related to severance and employee benefits, an estimated $33 million in non-cash charges related to the write-off of the carrying amount of property, plant and inventory, and an estimated $8 million in cash charges related to other closure and clean-up costs.”

Teads Holding Co. announced a restructuring with charges of approximately $8 million to $12 million affecting global (approximately 10% of the Company’s employees globally).

“is expected to result in annualized savings of approximately $35 million to $40 million when fully implemented. The Company currently estimates that it will incur approximately $8 million to $12 million in charges in connection with the Restructuring Plan, substantially all of which are expected to be future cash expenditures. These charges consist primarily of”

KROGER CO announced a impairment with charges of approximately $350 million affecting certain fulfillment centers in the United States.

“On December 4, 2025, the Company determined the impairment and related charges as a result of the closure of certain fulfillment centers in the United States includes a cash payment to Ocado of approximately $350 million.”

Traeger, Inc. announced a restructuring with charges of between approximately $25.0 million and $31.0 million affecting Company-wide (Project Gravity Phase 2) (a reduction in force to align workforce size with the Company’s current operational scale).

“charges. The Company now anticipates incurring total pre-tax charges related to currently known and reasonably estimable actions of Project Gravity of between approximately $25.0 million and $31.0 million (the “Total Costs”), which primarily consist of cash expenditures. Of the Total Costs, the Company expects pre-tax charges of between approximately $16.0”

PACKAGING CORP OF AMERICA announced a restructuring with charges of Cash charges of $40 million for contract termination, severance, and other charges affecting Wallula, Washington containerboard mill (approximately 200 positions).

“These charges include approximately $165 million of non-cash impairment and accelerated depreciation charges and $40 million of cash charges for contract termination, severance, and other charges.”

PACKAGING CORP OF AMERICA announced a impairment with charges of Non-cash impairment and accelerated depreciation charges of $165 million affecting Wallula, Washington containerboard mill (approximately 200 positions).

“These charges include approximately $165 million of non-cash impairment and accelerated depreciation charges and $40 million of cash charges for contract termination, severance, and other charges.”

Koppers Holdings Inc. announced a restructuring with charges of $4 million to $5 million.

“The Company estimates pre-tax restructuring charges, employee severance charges and related benefit costs for actions associated with the workforce reduction program to be in the range of $4 million to $5 million, which the Company anticipates will result in future cash expenditures of approximately $1 million.”

BEL FUSE INC /NJ announced a impairment with charges of up to approximately $14 million affecting noncontrolling minority investment in innolectric AG and related party notes receivable.

“sheet. As a result of these developments, based on currently available information and estimates, Bel anticipates recording a pre-tax impairment charge of up to approximately $14 million in the fourth quarter of 2025, representing the potential full loss of Bel’s Innolectric investment and notes receivable. The final amount of the impairment charge will be”

Leslie's, Inc. announced a restructuring with charges of approximately $12.0 million to $17.0 million affecting approximately 80-90 U.S. stores identified as underperforming.

“to be substantially completed by the end of first fiscal quarter of 2026. In connection with the Plan, the Company expects to incur total pre-tax charges of approximately $12.0 million to $17.0 million in the first fiscal quarter of 2026, consisting primarily of: • Impairment of long-lived assets of approximately $8.0 million • Inventory write-offs of”

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of $1,200 million to $1,600 million affecting Enterprise Business Services (a net reduction in workforce).

“Program includes a number of initiatives, and the Company estimates that restructuring and other charges to implement those initiatives are expected to total between $1,200 million and $1,600 million (before tax). At the time the Company filed the Current Report on Form 8-K on February 4, 2025, the Company was unable to make a determination of the estimated”

NEWELL BRANDS INC. announced a restructuring with charges of approximately $75 million to $90 million affecting global productivity plan across the Company (approximately 10% globally (approximately 900 employees)).

“The Company estimates that it will incur approximately $75 million to $90 million in restructuring and restructuring-related charges in connection with the Plan”

BOLLINGER INNOVATIONS, INC. announced a restructuring affecting Troy, Michigan, office.

“On November 21, 2025 , the management of Bollinger Innovations, Inc. (the “Company”) initiated a cost-reduction plan intended to streamline operations and preserve liquidity. As part of this plan, the Company has reduced its workforce and is in the process of closing its Troy, Michigan, office.”

Silvaco Group, Inc. announced a restructuring with charges of $2 million to $5 million (an initial involuntary reduction in force in the United States).

“the Company currently estimates that it will recognize pre-tax charges to its GAAP financial results ranging from $2 million to $5 million consisting of severance and other one-time termination benefits, and other costs such as the site closures as part of its global site strategy”

HP INC announced a restructuring with charges of approximately $650 million (approximately 4,000 – 6,000 employees).

“On November 25, 2025, the Board of Directors (the “Board”) of HP approved a plan intended to drive customer satisfaction, product innovation, and productivity through artificial intelligence adoption and enablement (the “Plan”). HP expects that the Plan will be implemented through fiscal 2028. The Plan is intended to generate estimated gross run rate savings of approximately $1 billion by the end of fiscal 2028. In connection with the Plan, HP anticipates incurring approximately $650 million in restructuring and other charges due to both labor and non-labor actions. HP estimates that approximately $550 million of this amount will be cash expenditures. Of the $650 million, HP expects to incur approximately $400 million in labor costs related to workforce reductions of approximately 4,000 – 6,000 employees by the end of fiscal 2028.”

Shuttle Pharmaceuticals Holdings, Inc. announced a restructuring affecting clinical trials of Ropidoxuridine.

“On November 20, 2025, in light of the foregoing, the Company committed to a plan to discontinue its clinical trials of Ropidoxuridine (the “Clinical Trials”), as provided for under the Master Agreement.”

HYSTER-YALE, INC. announced a restructuring with charges of approximately $21 million affecting global manufacturing and staff functions (approximately 575 employees).

“On November 13, 2025, the Board of Directors of Hyster-Yale, Inc. (the "Company") approved a restructuring plan that furthers progress toward the Company's cost reduction initiatives in response to current economic and industry dynamics. This action will reduce the Company's global workforce by approximately 575 employees. The Company expects to record pre-tax charges in the fourth quarter of 2025 of approximately $21 million consisting of severance and related benefit costs, all of which are expected to be paid in cash.”

KROGER CO announced a impairment with charges of approximately $2.6 billion affecting certain fulfillment centers in the United States.

“On November 18, 2025, The Kroger Co. (“Kroger” or the “Company”) announced updates to its eCommerce plan. In connection with the foregoing, the Company will close certain fulfillment centers in the United States. The Company expects to incur impairment and related charges in the third fiscal quarter of 2025 of approximately $2.6 billion as a result of these closures and the rest of the automated fulfillment network not meeting financial expectations.”

ON SEMICONDUCTOR CORP announced a impairment with charges of between $200 million and $300 million affecting certain onsemi manufacturing facilities.

“on November 13, 2025, management approved the recognition of additional pre-tax non-cash impairment and accelerated depreciation charges of between $200 million and $300 million. These impairment and accelerated depreciation charges are for long-lived assets relating to investments in manufacturing assets at certain onsemi manufacturing facilities.”

Under Armour, Inc. announced a restructuring with charges of up to $255 million of pre-tax restructuring and related charges affecting Company-wide; specifically includes Curry Brand separation, additional contract terminations, asset impairments, employee severance and benefits (approximately $34 million in employee severance and benefits costs).

“On November 13, 2025, Under Armour, Inc. (the “Company,” “Under Armour” or “UA”) announced an update to its previously disclosed fiscal year 2025 restructuring plan aimed at strengthening and supporting its financial and operational efficiencies. Previously, the Company expected to incur up to $160 million of pre-tax restructuring and related charges in connection with its fiscal year 2025 restructuring plan. After further review, the Company's Board of Directors approved a $95 million increase to the restructuring plan, which will include the separation of the Curry Brand as discussed below, as well as additional contract terminations, asset impairments, and employee severance and benefits costs. This will result in a restructuring plan of up to $255 million of pre-tax restructuring and related charges to be incurred during fiscal years 2025 and 2026”

Korro Bio, Inc. announced a restructuring with charges of approximately $2.4 million (approximately 34%).

“On November 12, 2025, Korro implemented a strategic restructuring to extend cash runway, including a workforce reduction of approximately 34%. Korro estimates that it will incur one-time restructuring charges of approximately $2.4 million including employee severance, benefits and related termination costs, the majority of which Korro expects to recognize during the three months ended December 31, 2025.”

SYNOPSYS INC announced a restructuring with charges of $300 million to $350 million (approximately 10% of Synopsys' workforce).

“following the completion of its acquisition of ANSYS, Inc. Synopsys currently estimates that it will recognize pre-tax charges to its GAAP financial results ranging from $300 million to $350 million consisting of severance and other one-time termination benefits, and other costs such as certain site closures as part of its global site strategy. Synopsys”

Restaurant Brands International Limited Partnership announced a impairment with charges of approximately $150 million affecting Burger King China.

“the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.”

Restaurant Brands International Inc. announced a impairment with charges of approximately $150 million affecting Burger King China.

“the Company has determined that it will be required under generally accepted accounting principles to take a non-cash charge of approximately $150 million on its Burger King China holdings.”

Kezar Life Sciences, Inc. announced a restructuring with charges of approximately $6.0 million affecting the Company (approximately 31 employees, or approximately 70%).

“restructuring plan in connection with its previously announced evaluation of strategic alternatives. The Company estimates that it will incur cash expenditures of approximately $6.0 million, consisting primarily of one-time severance payments, benefits and other related costs. The Company expects to recognize the majority of such costs in the fourth quarter of 2025.”

CODEXIS, INC. announced a restructuring with charges of approximately $3.5 million affecting ECO Synthesis platform (approximately 24%).

“benefits to impacted employees, as well as the payment of other expenses such as related tax costs, will result in the recognition of an additional expense of approximately $3.5 million. The Company anticipates this expense will be recognized in the fourth quarter of 2025 and paid primarily during the same period. The Company expects the workforce reduction to”

UNIVERSAL LOGISTICS HOLDINGS, INC. announced a impairment with charges of $81.2 million affecting intermodal segment.

“the Company has now completed its evaluation and determined that the total impairment charges to be recognized in the third quarter of 2025 are $81.2 million, consisting of a $58.0 million impairment of goodwill and a $23.2 million impairment of previously acquired customer lists.”

TripAdvisor, Inc. announced a restructuring with charges of approximately $35 million to $40 million.

“The Company estimates that it will incur charges of approximately $35 million to $40 million in connection with these actions, primarily consisting of cash expenditures for employee severance payments, employee benefits and other related costs.”

Honest Company, Inc. announced a restructuring with charges of approximately $15.0 million to $25.0 million affecting exiting Honest.com fulfillment and apparel, as well as exiting retail and online stores in Canada.

“Powering Honest Growth is aimed at improving simplicity, focus and profitability, which includes exiting certain lower margin, non-strategic categories and channels, including exiting Honest.com fulfillment and apparel, as well as exiting retail and online stores in Canada, optimizing the Company's cost structure by rightsizing selling, general and administrative expenses and implementing supply chain efficiencies. Powering Honest Growth is projected to result in the following: • Costs associated with Powering Honest Growth, including restructuring costs, are expected to be approximately $25.0 million to $35.0 million to be recognized through the first quarter of 2027, with no expense incurred during the three months ended September 30, 2025. ◦ Restructuring costs related to exiting the Company's lower margin, non-strategic portfolios are expected to be approximately $15.0 million to $25.0 million and include employee-related costs, contract terminations, and other associated exit cost”

Xperi Inc. announced a restructuring with charges of approximately $16.0 million to $18.0 million affecting all business and functional areas (approximately 250 employees globally).

“business and functional areas. The Restructuring Plan is expected to be substantially completed by the end of the first half of 2026. The Company expects to incur approximately $16.0 million to $18.0 million of restructuring and related charges, substantially all of which are employee severance and related costs that are expected to be paid in cash. The Company may”

Traeger, Inc. announced a restructuring with charges of between approximately $21.0 million and $27.0 million affecting overall enterprise optimization (Project Gravity).

“the Company now expects to incur pre-tax charges related to currently known and reasonably estimable actions of Project Gravity of between approximately $21.0 million and $27.0 million (the “Total Costs”), which primarily consist of cash expenditures.”

UL Solutions Inc. announced a restructuring with charges of approximately $42-$47 million affecting Consumer and Industrial segments (approximately 3.5% of the Company’s current workforce).

“On November 4, 2025, the Company announced an expense reduction initiative to further improve the operating model and exit certain lines of business that are no longer considered strategically important to the Company (the “Restructuring Plan”). The Company expects to incur pre-tax expenses associated with the Restructuring Plan of approximately $42-$47 million in the aggregate, consisting of $37-$42 million in cash charges relating to employee separation expenses for approximately 3.5% of the Company’s current workforce and approximately $5 million in other cash charges, primarily relating to contract cancellations.”

HORMEL FOODS CORP /DE/ announced a restructuring with charges of $20 million to $25 million (approximately 250 corporate and sales roles).

“most of the related employee departures to occur by December 31, 2025. In connection with this restructuring, the Company expects to incur restructuring charges in the range of $20 million to $25 million. Substantially all the charges are expected to be related to one-time pension benefits, cash severance payments, stock compensation expenses, and employee benefit”

JELD-WEN Holding, Inc. announced a restructuring with charges of approximately $10 million to $20 million affecting North America and Corporate (approximately 11% (approximately 850 employees)).

“On November 3, 2025, the Company announced a plan to reduce its North America and Corporate workforce by approximately 11% (approximately 850 employees) (the “ 2025 Restructuring Plan ”) to align its cost structure and improve operational efficiency. The Company estimates that it will incur charges of approximately $10 million to $20 million in connection with the 2025 Restructuring Plan, primarily consisting of expenditures for severance payments, employee benefits and other related costs.”

TScan Therapeutics, Inc. announced a restructuring with charges of up to approximately $2.3 million affecting the Company (approximately 30% of the Company’s workforce, or 66 roles).

“On November 3, 2025, TScan Therapeutics, Inc. (the “Company”) initiated a prioritization strategy by which the Company will prioritize the clinical development of its heme program, pause further enrollment in its solid tumor Phase 1 trial, and focus preclinical efforts on in vivo engineering for solid tumors and target discovery in autoimmunity. Pursuant to such strategy, the Company also implemented a workforce reduction of approximately 30% of the Company’s workforce, or 66 roles. The Company expects to record a one-time charge of up to approximately $2.3 million during the three months ended December 31, 2025, for severance-related benefits and other costs.”