Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.95
LIFECORE BIOMEDICAL, INC. DE announced a restructuring with charges of approximately $1.0 million (46 full-time employees of the Company, representing approximately 9% of the Company’s workforce).
- Type
- restructuring
- Charge
- approximately $1.0 million
- Headcount
- 46 full-time employees of the Company, representing approximately 9% of the Company’s workforce
Exact text from the filing
On July 8, 2024, Lifecore Biomedical, Inc. (the “Company”) determined to implement a strategic reduction of the Company’s workforce (the “Workforce Reduction Plan”) to terminate 46 full-time employees of the Company, representing approximately 9% of the Company’s workforce, as part of an initiative to strategically optimize the Company’s cost structure. In connection with the Workforce Reduction Plan, the Company estimates that it will incur termination benefit costs of approximately $1.0 million, which primarily consist of one-time severance benefits.
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