Viavi Solutions approves restructuring plan affecting 6% of workforce; expects $15M severance charges

VIAVI SOLUTIONS INC.

~6% of global workforce to be affected under the FY2024 Plan approved June 13, 2024.
Company estimates severance and termination benefit charges of approximately $15 million.
Plan expected to yield ~$25 million in annualized cost savings; substantially completed within four fiscal quarters.
Action driven by persistent challenging spend environment in service provider and enterprise customer segments.

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