VIAVI SOLUTIONS INC. (VIAV): restructuring charge — 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.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

VIAVI SOLUTIONS INC. announced a restructuring with charges of approximately $15 million affecting various functions (approximately 6% of its global workforce).

Type: restructuring
Charge: approximately $15 million
Affected area: various functions
Headcount: approximately 6% of its global workforce

Exact text from the filing

needs. The Company expects approximately 6% of its global workforce to be affected and estimates it will incur severance and termination benefits charges of approximately $15 million in connection with the Plan. The Company anticipates the Plan to result in approximately $25 million in annualized cost savings and to be substantially completed within the next

View on SEC.gov

2 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

VIAVI SOLUTIONS INC. filing history →

Source: SEC EDGAR

accession 0000912093-24-000046

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.