JUNIPER NETWORKS INC: restructuring charge — Juniper Networks approves restructuring plan; to cut 440 jobs, incur ~$59M charges

JUNIPER NETWORKS INC

Total estimated costs of ~$59M ($48M cash); $40M severance, $19M other restructuring costs.
Headcount reduction of approximately 440 positions; actions substantially completed by Q1 FY2024.
Additionally approved $14M expansion of prior 2023 restructuring plan for asset impairments.

item 2.05 item 2.06

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

JUNIPER NETWORKS INC announced a impairment with charges of approximately $14 million.

Type: impairment
Charge: approximately $14 million

Exact text from the filing

the Company approved an expansion of the restructuring plan approved during the first half of 2023 and previously disclosed in our quarterly report for the quarter ended June 30, 2023 of approximately $14 million in costs relating to asset impairments.

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

JUNIPER NETWORKS INC announced a restructuring with charges of approximately $59 million (approximately 440).

Type: restructuring
Charge: approximately $59 million
Headcount: approximately 440

Exact text from the filing

Total costs currently estimated to be incurred in connection with the Plan are approximately $59 million, of which approximately $48 million are expected to result in cash expenditures. The Company expects to reduce worldwide headcount by approximately 440 and estimates that it will incur cash charges for severance and other related employee termination expenses of approximately $40 million.

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Source: SEC EDGAR

accession 0001043604-23-000147

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