OMNICELL, INC. (OMCL): restructuring charge — Omnicell to cut 9% of workforce (~350 employees) in restructuring plan

OMNICELL, INC.

Plan approved Nov 23, 2022; reduces headcount by ~350 (9% of total workforce).
Estimated nonrecurring charges of ~$17M, primarily cash-based severance and benefits.
Majority of charges expected in Q4 2022; plan to be substantially completed by Q1 2023.
Restructuring driven by expense containment amid ongoing macro-economic headwinds.
Workforce reduction affects majority of functions across the company.

item 2.05

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

OMNICELL, INC. announced a restructuring with charges of approximately $17.0 million (approximately 350 employees).

Type: restructuring
Charge: approximately $17.0 million
Headcount: approximately 350 employees

Exact text from the filing

On November 23, 2022, Omnicell, Inc. (the “Company”) committed to a plan to reduce the Company’s headcount (the “ Plan”) as part of the Company’s expense containment efforts being implemented due to ongoing macro-economic headwinds. The Company expects to reduce its workforce across a majority of its functions affecting approximately 350 employees, representing approximately 9% of the Company’s workforce . In connection with the Plan, the Company estimates that it will incur approximately $17.0 million of nonrecurring restructuring and related charges.

View on SEC.gov

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

OMNICELL, INC. filing history →

Source: SEC EDGAR

accession 0000926326-22-000036

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