Restructurings & Charges

Workday, Inc. announced a impairment with charges of approximately $35 million in non-cash charges related to the impairment of office space affecting office space.

“The charges also consist of approximately $35 million in non-cash charges related to the impairment of office space that Workday expects to record in the first quarter of fiscal 2026.”

Workday, Inc. announced a restructuring with charges of approximately $230 million to $270 million in charges (approximately 1,750 positions, or 8.5% of Workday's current workforce).

“its fiscal year ending January 31, 2026. In connection with the Plan, Workday expects to exit certain owned office space. Workday estimates that it will incur approximately $230 million to $270 million in charges in connection with the Plan, of which approximately $60 million to $70 million is expected to be recognized in the fourth quarter of fiscal 2025, and”

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of between $1,200 million and $1,600 million (approximately 5,800 to 7,000 positions globally).

“In connection with the Restructuring Program, the Company now estimates a net reduction in the range of approximately 5,800 to 7,000 positions globally, which is about 9-11% of its positions including temporary and part-time employees as of June 30, 2023. This net reduction takes into account the elimination of positions after retraining and redeployment of certain employees in select areas. 2 The Company now expects that the Restructuring Program will result in restructuring and other charges totaling between $1,200 million and $1,600 million, before taxes”

MERCURY SYSTEMS INC announced a restructuring with charges of approximately $5 million (approximately 145 positions).

“On January 29, 2025, we executed a workforce reduction that will eliminate approximately 145 positions, resulting in expected restructuring charges of approximately $5 million for employee separation costs”

GOODYEAR TIRE & RUBBER CO /OH/ announced a restructuring with charges of between $130 million and $140 million affecting Americas (approximately 850 job reductions).

“On January 30, 2025, The Goodyear Tire & Rubber Company (the “Company”) reached an agreement with the United Steelworkers and approved a plan to reduce the Company’s production capacity and production cost per tire in Americas. The plan includes approximately 850 job reductions, including associates and contracted positions, at its Danville, Virginia tire manufacturing facility, which will continue to produce aviation tires and conduct mixing operations. The Company expects to substantially complete this rationalization plan by the end of 2025 and estimates the total pre-tax charges associated with this action to be between $130 million and $140 million, of which $80 million to $90 million is expected to be cash charges primarily for associate-related and other exit costs and the remaining costs are expected to be non-cash charges primarily for accelerated depreciation, pension curtailment and other asset-related charges.”

Teads Holding Co. announced a restructuring with charges of approximately $20 million to $25 million in charges.

“On February 3, 2025, in connection with the completion of the Acquisition, the Company announced a restructuring plan (the “Plan”), involving a reduction in workforce, as part of its efforts to streamline operations and reduce duplication of roles. The Company estimates that it will incur approximately $20 million to $25 million in charges in connection with the Plan, of which approximately $18 million to $24 million is expected to be incurred in 2025. These charges consist primarily of severance payments.”

Allegiant Travel CO announced a impairment with charges of estimated amount of $322 million affecting Sunseeker Resort, including the Aileron golf course and related real estate.

“management of Allegiant Travel Company (“the Company”) concluded that the carrying value of Sunseeker Resort ("the Resort"), including the Aileron golf course and related real estate, is no longer fully recoverable based on a detailed analysis of the estimated future cash flows and an independent third party valuation of the Resort and these other assets. As a result, the Company will record a non-cash impairment charge in the estimated amount of $322 million during the fourth quarter of fiscal year 2024.”

FRACTYL HEALTH, INC. announced a restructuring with charges of approximately $1.8 million affecting the Company (22 employees, or approximately 17% of the Company’s workforce).

“implemented by the second quarter of 2025. In connection with the Strategic Reprioritization, the Company estimates that it will incur cash charges of approximately $1.8 million related to severance, employee benefits, and other related personnel reduction costs. At this time, the Company is unable in good faith to make a determination of other estimated”

Xylem Inc. announced a restructuring with charges of pre-tax charges of approximately $95 million to $115 million primarily during 2025, with some charges expected in 2026, and inclusive of approximately $19 milli affecting all of our businesses and functions (workforce reductions across all of our businesses and functions).

“On January 28, 2025, at the delegation of the Company’s Board of Directors, management committed to a restructuring plan. The plan consists of workforce reductions across all of our businesses and functions.”

DOW INC. announced a restructuring with charges of $250 million to $325 million (approximately 1,500 roles).

“Company will record a charge in the first quarter of 2025 for costs associated with severance and related benefit costs. In total, these costs are expected to be in the range of $250 million to $325 million and are expected to have future cash payments paid out primarily over the next two years. In addition, the Company will incur costs to implement these actions,”

FB Bancorp, Inc. /MD/ announced a impairment with charges of non-cash goodwill impairment charge of the entire $5,786,000 balance affecting NOLA Lending Group, a reportable segment that originates residential mortgages primarily for resale in the secondary market.

“based on the results of the test, the Company will record a non-cash goodwill impairment charge of the entire $5,786,000 balance.”

IRONWOOD PHARMACEUTICALS INC announced a restructuring with charges of approximately $20.0 million to approximately $25.0 million (approximately 50%).

“to have approximately 120 full-time employees. The Company estimates that, in connection with this reduction in its workforce, it will incur aggregate charges of approximately $20.0 million to approximately $25.0 million, primarily comprised of one-time employee severance and benefit costs. The charges related to the reduction in workforce are expected to be”

Hyperfine, Inc. announced a restructuring with charges of up to $0.4 million (approximately 14% of its global workforce).

“sufficient to iterate the Swoop® system technology further and execute on its strategy. In connection with the restructuring, the Company currently estimates it will incur up to $0.4 million of costs, consisting primarily of cash severance costs, other severance benefits and other related restructuring costs. The Company expects to substantially complete the”

CARGO Therapeutics, Inc. announced a restructuring with charges of between $31 million to $37 million in total affecting the discontinuation of the clinical development of firi-cel (approximately 50%).

“clinical development of firi-cel, is expected to extend the Company’s cash runway to mid-2028. In connection with these actions, the Company expects to incur expense of between $31 million to $37 million in total, a substantial portion of which we expect to recognize during the first quarter of 2025. The anticipated expense includes: severance, benefits, payroll”

LIFETIME BRANDS, INC announced a restructuring with charges of up to $7 million affecting Robbinsville, NJ facility.

“On January 17, 2025, the Board of Directors of the Company approved the Lease and related transactions. In connection with the relocation, the Company will exit the facility in Robbinsville, NJ. The Company expects to incur one-time exit costs up to $7 million, for employee severance, certain employee relocation costs, and remaining lease costs for the Robbinsville facility through the end of the term.”

Zentalis Pharmaceuticals, Inc. announced a restructuring with charges of approximately $7.0–8.0 million affecting the Company (approximately 40%).

“On January 22, 2025, the Board of Directors (the “Board”) of Zentalis Pharmaceuticals, Inc. (the “Company”) approved a strategic restructuring of the Company to support execution of late-stage development for the Company’s WEE1 inhibitor product candidate, azenosertib, and extend its cash runway beyond a potentially registration-enabling azenosertib data readout from the Company’s DENALI Part 2 study, anticipated by the end of 2026. In connection with this strategic restructuring, the Company expects to reduce its workforce by approximately 40%. The Company expects to incur one-time costs of approximately $7.0–8.0 million in the first quarter of 2025 in connection with the workforce reduction.”

Allakos Inc. announced a restructuring with charges of approximately $34 million to $38 million affecting discontinuation of AK006-related activities across clinical, manufacturing, research and administrative functions (approximately 75%).

“On January 27, 2025, the Company announced plans to discontinue development of AK006. As part of the corporate restructuring, the Company plans to discontinue AK006-related activities across clinical, manufacturing, research and administrative functions. The Company also plans to reduce its workforce by approximately 75%. The total costs related to discontinuing AK006-related activities and reducing the workforce are estimated to be approximately $34 million to $38 million”

Atara Biotherapeutics, Inc. announced a restructuring with charges of approximately $7.5 million in total for severance and related benefits affecting workforce (approximately 50% of its current employees).

“On January 27, 2025, Atara Biotherapeutics, Inc. (the “Company”) announced a reduction in its workforce that will impact approximately 50% of its current employees. The Company expects to substantially complete the workforce reduction by June 2025. The Company expects to recognize approximately $7.5 million in total for severance and related benefits for employees laid off under the reduction in force.”

Evolv Technologies Holdings, Inc. announced a restructuring with charges of approximately $2.3 million affecting all organizations across the Company (40 employees in all organizations across the Company, representing approximately 14% of the Company's workforce).

“as the Company seeks further flexibility to pursue its investment strategy with certain growth opportunities. The Company expects to incur pre-tax charges of approximately $2.3 million for the reduction in force, substantially all of which is expected to be incurred in the first quarter of 2025. These charges consist of one-time termination charges arising from”

Fortune Brands Innovations, Inc. announced a restructuring with charges of approximately $50 million to $80 million affecting U.S. regional offices.

“related to employee relocation, severance, retention, non-cash asset related costs, lease exit costs, and other transition activities estimated in the range of approximately $50 million to $80 million in the aggregate, the majority of which are expected to be cash charges that will be spread through the balance of this fiscal year and fiscal year 2026. At this”

INTERPACE BIOSCIENCES, INC. announced a restructuring with charges of $0.8 million to $1.0 million affecting workforce related to PancraGEN® coverage loss (reducing its workforce).

“Plan, the Company is reducing its workforce and impacted employees will be eligible to receive severance benefits. The Company expects to incur severance costs in the range of $0.8 million to $1.0 million which will be recorded primarily in the first quarter of 2025. The substantial majority of the severance payments are expected to be made by the end of the second”

Zedge, Inc. announced a restructuring with charges of not estimable affecting GuruShots (approximately 14 employees, representing approximately 14% of our global workforce).

“On January 21, 2025, Zedge, Inc. (the “Company”) announced a corporate restructuring, which includes a workforce reduction involving approximately 14 employees, representing approximately 14% of our global workforce.”

ILLUMINA, INC. announced a restructuring with charges of $32 million affecting Foster City campus and another property in San Diego, California.

“The Company recorded right-of-use asset and leasehold improvement impairment charges of $32 million in the first fiscal quarter of 2024 related to these exits.”

BROWN FORMAN CORP announced a restructuring with charges of $60 to $70 million affecting worldwide (approximately 12%).

“fiscal 2025 with the remainder expected to be completed by the end of fiscal 2026. In connection with the Plan, the Company expects to incur aggregate charges of approximately $60 to $70 million consisting primarily of employee severance and other one-time costs related to employee benefits (approximately $27 to $32 million), and one-time costs related to”

KENNAMETAL INC announced a restructuring with charges of pre-tax charges of approximately $25 million affecting Metal Cutting segment (certain professional headcount).

“The Company expects to incur pre-tax charges of approximately $25 million in connection with the execution of these actions; of which approximately $10 million is for cash-related facilities charges, approximately $10 million is for severance-related cash expenditures and approximately $5 million is for non-cash facilities charges.”

DHI GROUP, INC. announced a restructuring with charges of approximately $2.2 million affecting overall company; Dice and ClearanceJobs divisions (approximately 8%).

“As a result of the restructuring, the positions of Chief Revenue Officer and Chief Marketing Officer were eliminated. The Company estimates that it will incur approximately $2.2 million in cash charges related to employee severance and benefits and expects all of the $2.2 million to be future cash expenditures. All charges are expected to be recognized in the”

FORRESTER RESEARCH, INC. announced a restructuring with charges of approximately $5.2 million to $5.6 million affecting various geographies and functions (approximately 6% of its employees).

“be completed by January 31, 2025. The Company also plans to close one of its smaller offices in the United States. The Company expects to incur pre-tax expenses of approximately $5.2 million to $5.6 million in the fourth quarter of 2024 and the first half of 2025 related principally to cash severance and related benefit costs for terminated employees. Forward Looking”

IGM Biosciences, Inc. announced a restructuring affecting autoimmune disease pipeline (imvotamab and IGM-2644 programs) (approximately 73% reduction in force).

“On January 9, 2025, IGM Biosciences, Inc. (the “Company”) announced a strategic update to halt further development of imvotamab, an IgM-based CD20 X CD3 bispecific antibody T cell engager, and IGM-2644, an IgM-based CD38 X CD3 bispecific antibody T cell engager, for autoimmune diseases (the “2025 Restructuring”). As part of the 2025 Restructuring, which was approved by the Company’s Board of Directors on January 7, 2025, the Company is taking steps, including an approximately 73% reduction in force, to preserve cash.”

AbbVie Inc. announced a impairment with charges of approximately $3.5 billion affecting emraclidine intangible asset acquired as part of the acquisition of Cerevel Therapeutics Holdings, Inc..

“the estimated future cash flows for the product. Based on the revised cash flows, the company estimates a non-cash after-tax intangible asset impairment charge of approximately $3.5 billion. AbbVie continues to evaluate information with respect to the Cerevel-related clinical development programs and will monitor the remaining intangible assets of approximately $3.6”

Wayfair Inc. announced a restructuring with charges of approximately $102 million to $111 million affecting German market (approximately 730 employees).

“half of these positions to relocate to other corporate offices. As a result of the Germany Restructuring, we estimate that we will incur aggregate charges of approximately $102 million to $111 million, consisting of (i) approximately $40 million to $44 million in cash employee-related costs, including severance, benefits, relocation and transition costs”

Intellia Therapeutics, Inc. announced a restructuring with charges of approximately $8 million (approximately 27%).

“On January 9, 2025, the Company announced the prioritization of its current and near-term clinical programs and a strategic restructuring to streamline its operations. These changes are expected to extend the Company’s cash runway into the first half of 2027. In connection with this portfolio prioritization and strategic restructuring, the Company expects to implement a net reduction of its employee headcount by approximately 27% over 2025. The Company estimates that it will incur charges of approximately $8 million for severance and other employee termination-related costs, primarily in the first quarter of 2025.”

Hyzon Motors Inc. announced a restructuring with charges of approximately $1 million affecting Shanghai, China via its wholly owned subsidiary, Hyzon Motors Technology (Shanghai) Co., Ltd. (all of which relate to employee-related costs).

“On January 7, 2025, the Board of Directors (“Board”) of Hyzon Motors Inc. (the “Company” or “Hyzon”) determined to wind down and liquidate its operations in Shanghai, China via its wholly owned subsidiary, Hyzon Motors Technology (Shanghai) Co., Ltd. In connection with these planned exit activities, the Company expects to incur charges of approximately $1 million, all of which are expected to be in cash and all of which relate to employee-related costs.”

Y-mAbs Therapeutics, Inc. announced a restructuring with charges of up to approximately $2.6 million affecting not explicitly segmented but refers to two business units: DANYELZA and Radiopharmaceuticals (up to approximately 13%).

“healthcare coverage assistance. ​ As a result of the reduction in workforce and realignment plan, the Company expects to incur restructuring expenses of up to approximately $2.6 million, consisting predominantly of cash-related notice and severance payments of up to approximately $2.1 million and acceleration of stock-based compensation of up to approximately”

Passage BIO, Inc. announced a impairment with charges of approximately $1.0 million to $3.0 million affecting laboratory equipment at the Laboratory Lease.

“the Company expects to recognize impairment expenses for its laboratory equipment of approximately $1.0 million to $3.0 million in the three-month period ending March 31, 2025.”

Passage BIO, Inc. announced a restructuring with charges of approximately $2.0 million affecting approximately 62,000 feet of leased laboratory space in Hopewell, New Jersey (approximately 5 5 %).

“operating costs by approximately $9.0 million to $11.0 million, excluding the Company’s estimates of aggregate severance and exit costs that it will incur of approximately $2.0 million, which will be recorded primarily in the first quarter of 2025. The cost that the Company expects to incur in connection with the Restructuring Plan is subject to a number of”

Barinthus Biotherapeutics plc. announced a restructuring with charges of in the region of $2.5 million affecting UK (65% reduction in workforce).

“On January 10, 2025, the Company announced a restructuring plan that aims to prioritize its immune tolerance research and development programs. The Company is planning a 65% reduction in workforce, which is subject to consultation with employee representatives in the UK regarding the plan. The Company anticipates that the majority of the reduction in workforce will occur in the UK and be completed during the first half of 2025. The Company estimates that the pre-tax costs of such reduction in workforce relating to employee severance and other employee-related costs may be in the region of $2.5 million with the majority of such costs being incurred in the first half of 2025.”

FIRST INTERSTATE BANCSYSTEM INC announced a impairment with charges of approximately $49.3 million affecting single commercial and industrial loan relationship.

“management of First Interstate BancSystem, Inc. (the “Company”) and its wholly owned subsidiary First Interstate Bank (the “Bank”) determined that the Company expects to recognize a material, partial charge-off of approximately $49.3 million for the quarter ended December 31, 2024 related to a single commercial and industrial loan relationship”

KOHLS Corp announced a restructuring with charges of approximately $60 million to $80 million affecting real estate and workforce (San Bernardino EFC, 27 underperforming stores).

“Kohl’s currently estimates that it will recognize cumulative pre-tax charges of approximately $60 million to $80 million, including $30 million of non-cash charges in real estate and other asset-related charges, costs, and impairments and $30 million to $50 million of cash expenditures related to associate severance, benefits, and other exit costs.”

FILANA THERAPEUTICS, INC. announced a restructuring with charges of approximately $0.4 million (10 employees, a reduction of 33%).

“The Company estimates that it will incur approximately $0.4 million of one-time costs in connection with the Workforce Reduction, primarily related to severance payments.”

Ingredion Inc announced a restructuring with charges of approximately $66 million affecting plant protein concentrates and flour manufacturing facility in Vanscoy, Saskatchewan, Canada (Approximately twenty employees).

“underlying real property but has not entered into a contract of sale as of the date of this report. The Company expects to incur pre-tax non-recurring charges of approximately $66 million under the plan, of which approximately $65 million is expected to be impairment charges relating to fixed asset and inventory write-downs and approximately $1 million is expected”

SOLAREDGE TECHNOLOGIES, INC. announced a restructuring with charges of approximately $3 million to $5 million (approximately 400 employees globally).

“and enhancing efficiency in other operating areas. The Company currently estimates that it will recognize pre-tax charges to its GAAP financial results of approximately $3 million to $5 million consisting of severance, other one-time termination benefits, and other costs. These charges are primarily cash-based. Reductions in the workforce are subject to”

CytomX Therapeutics, Inc. announced a restructuring with charges of approximately $5 million to $6 million affecting general and administrative functions and staff supporting non-partnered internal research programs (approximately 40%).

“cash runway into the second quarter of 2026. In connection with the restructuring, the Company estimates that it will incur aggregate restructuring charges of approximately $5 million to $6 million, which the Company expects will be substantially recorded in the first quarter of 2025. The estimated restructuring charges are related primarily to one-time”

Everything Blockchain, Inc. announced a impairment with charges of approximately $20 million affecting EBControl and BuildDB software solutions.

“the Company will impair its Goodwill and intangible assets associated with EBControl and BuildDB, which the Company expects to be approximately $20 million”

ALICO, INC. announced a restructuring with charges of approximately $1.5 to $2.0 million affecting Alico Citrus division (up to 172 employees).

“financial challenges from citrus greening disease and environmental factors for many seasons. The Company currently estimates that it will incur charges of approximately $1.5 to $2.0 million in connection with the Workforce Reduction, primarily consisting of severance payments, employee benefits and related costs. The Company expects that the majority”

Vincerx Pharma, Inc. announced a restructuring with charges of approximately $2.4 million (an additional workforce reduction).

“The Company’s Board of Directors (“Board”) approved additional streamlining and cost-control measures on December 20, 2024, including an additional workforce reduction, as the Company pursues due diligence and transaction-related work in connection with the Term Sheet. The Company estimates that it will incur approximately $2.4 million in costs primarily related to severance costs and related expenses”

ESTEE LAUDER COMPANIES INC announced a restructuring with charges of restructuring and other charges of approximately $122 million (before tax) affecting geographic regions, supply chain, research and development, marketing and creative organization, various corporate functions (employee severance through a net reduction in workforce).

“through a net reduction in workforce. Once the relevant accounting criteria have been met, the Company expects to record restructuring and other charges of approximately $122 million (before tax) in connection with these initiatives, which other than the non-cash charges, are expected to result in future cash expenditures funded from cash provided by”

Hyzon Motors Inc. announced a restructuring with charges of negligible amount affecting Bolingbrook, Illinois and Troy, Michigan facilities; substantially all remaining employees in Illinois and Michigan (all of the employees at the Company's Bolingbrook, Illinois and Troy, Michigan facilities, as well as to substantially a).

“On December 19, 2024, the Board of Directors (the “Board”) of Hyzon Motors Inc. (the “Company”) unanimously approved, subject to stockholder approval, (i) the transfer of all or substantially all of the Company’s assets through an assignment for the benefit of creditors (the “Assignment”), and (ii) the liquidation and dissolution of the Company pursuant to a plan of dissolution (the “Dissolution”) while continuing to pursue strategic alternatives and potential funding sources intended to maximize the value of its business and assets.”

AAR CORP announced a impairment with charges of approximately $60 million affecting Landing Gear Overhaul (LGO) business.

“the Company determined that it will recognize a non-cash, pre-tax loss of approximately $60 million in the fiscal third quarter ending February 28, 2025 reflecting the adjustment of LGO’s carrying value to its fair value less costs to sell.”

O-I Glass, Inc. /DE/ announced a restructuring with charges of approximately $72 million affecting European segment (approximately 100 people).

“Subject to finalization of certain estimates, the Company expects to record charges associated with these closures of approximately $72 million in the fourth quarter of 2024.”

Outlook Therapeutics, Inc. announced a restructuring with charges of approximately $ 0.3 million (5 people, or approximately 23% of the Company’s existing headcount).

“eligibility for severance benefits is contingent upon execution of a general release of claims against the Company. The Company estimates that it will incur approximately $ 0.3 million in restructuring charges in connection with the workforce reduction, consisting of cash-based expenses related to employee severance and notice period payments, benefits and”