Neuronetics, Inc. (STIM): restructuring charge — Neuronetics reduces workforce by 10%, expects >$3.5M annual cash savings

Neuronetics, Inc.

Workforce reduction of approximately 10% to sharpen focus on growth.
Anticipated post-reorganization annualized cash savings of more than $3.5 million.
Expected severance and related costs of approximately $0.4 million.
Reorganization intended to improve operational efficiency and commercial strategy.

item 2.05 item 9.01

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

Neuronetics, Inc. announced a restructuring with charges of approximately $0.4 million (approximately 10%).

Type: restructuring
Charge: approximately $0.4 million
Headcount: approximately 10%

Exact text from the filing

will also improve operational efficiency, with anticipated post-reorganization annualized cash savings of more than $3.5 million. The Company expects to recognize approximately $0.4 million in total expenses for severance and related benefits for employees impacted by the reduction in force, consisting primarily of severance payments and related benefits. The

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Neuronetics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-255111

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