MAXLINEAR, INC (MXL): restructuring charge — MaxLinear expects $30M-$40M restructuring costs in 2024 from workforce reduction

MAXLINEAR, INC

Incurred approximately $10M-$11M in restructuring costs in Q4 2023 related to severance.
Estimates $30M-$40M total restructuring costs in 2024, two-thirds for statutory severance.
Approximately one-third of 2024 costs are non-cash charges for facility exits and asset write-offs.
Affected employees to be fully informed by end of Q1 2024.

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

MAXLINEAR, INC announced a restructuring with charges of approximately $10 million to $11 million.

Type: restructuring
Charge: approximately $10 million to $11 million

Exact text from the filing

As a result of the Workforce Reduction, in the three months ended December 31, 2023, we incurred approximately $10 million to $11 million in restructuring costs primarily related to severance costs and related expenses, and estimate that we will incur approximately $30 million to $40 million in restructuring costs in 2024.

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18 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

MAXLINEAR, INC filing history →

Source: SEC EDGAR

accession 0001288469-24-000004

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