Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
BIO-RAD LABORATORIES, INC. announced a restructuring with charges of between approximately $45 million and $50 million affecting operations in the United States (approximately 5% of our workforce).
- Type
- restructuring
- Charge
- between approximately $45 million and $50 million
- Affected area
- operations in the United States
- Headcount
- approximately 5% of our workforce
Exact text from the filing
On February 7, 2025, Bio-Rad Laboratories, Inc. (the “Company”) initiated a strategy-driven restructuring plan in furtherance of our ongoing program to improve operating performance. The restructuring plan primarily impacts our operations in the United States and includes the elimination of certain positions, the consolidation of certain functions, and the relocation of certain operations to lower cost locations. The restructuring plan is expected to eliminate a total of approximately 5% of our workforce. We anticipate the restructuring plan will be substantially completed by the end of fiscal year 2025. We estimate that as a result of this restructuring plan we will incur between approximately $45 million and $50 million in total cost, which we anticipate will consist primarily of one-time termination benefits to the affected employees, including cash severance payments, healthcare benefits, and related transition assistance.
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