secwatch.observer — SEC 8-K summary
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Issuer:     ACCO BRANDS Corp (ACCO)
CIK:        0000712034
Form:       8-K
Filed at:   2023-12-20T23:59:59+00:00
Accession:  0000950170-23-071922
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.05
LLM model:  deepseek-v4-flash:cloud@v2

ACCO Brands to close Sidney NY facility, record $9M restructuring charge in Q4 2023
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- Plan to close Sidney, NY facility affecting ~300 employees; manufacturing outsourced, distribution moved to Booneville, MS.
- Pre-tax restructuring charge of ~$9M in Q4 2023 for employee termination costs; additional $2M in 2024.
- Total cash expenditures expected to be $13M ($7M in 2024, $6M in 2025); no estimate for sale proceeds.
- Annualized cost savings of ~$12M expected when fully realized in calendar year 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712034/000095017023071922/0000950170-23-071922-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712034/000095017023071922/acco-20231214.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-071922

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