Mercury Systems cuts ~100 jobs in restructuring phase, appoints SVP of Operations

MERCURY SYSTEMS INC

Workforce reduction of about 100 positions; expects $5M restructuring charges in fiscal Q4 ending June 28, 2024.
Annualized savings of ~$15M from headcount and non-headcount cuts; part to be reinvested, rest to boost profitability.
Tod Brindlinger appointed SVP of Operations, effective June 10, reporting to COO Roger Wells.
Second phase of reorganization consolidating two divisions into one, creating business units Signal Technologies, Processing Technologies, Integrated Processing Solutions.
Chairman and CEO Bill Ballhaus cites progress in integration to unlock growth potential.

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