NEWELL BRANDS INC. (NWL): restructuring charge — Newell Brands launches Network Optimization Project; expects $25M-$35M annual savings

NEWELL BRANDS INC.

Restructuring to reduce and optimize North American distribution centers; implementation by end of FY2024.
Expected annual pre-tax cost savings of $25M-$35M from real estate and bought cost reductions.
Estimated restructuring charges of $37M-$49M ($8M-$11M cash severance, $29M-$38M site reductions).
Approximately $35M-$44M of charges are future cash outlays; capital expenditures of $30M-$40M expected.
Project initiated May 24, 2023; aims to simplify cost structure and improve operating margins.

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

NEWELL BRANDS INC. announced a restructuring with charges of approximately $37 million to $49 million affecting North American distribution network.

Type: restructuring
Charge: approximately $37 million to $49 million
Affected area: North American distribution network

Exact text from the filing

and other bought cost reductions, in connection with the Network Optimization Project when it is fully implemented. The Company estimates that it will incur approximately $37 million to $49 million in restructuring and restructuring-related charges associated with execution of the Network Optimization Project and expects that the costs incurred will be

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Source: SEC EDGAR

accession 0001193125-23-155426

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