secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001654954-23-005515
Event type: other_material
Sentiment:  negative
Materiality: 0.55
Item codes: 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Company to close UK mold tooling facility, record ~$4M Q2 charge
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- Plan to close Associated Tool Makers Ltd. (Farndon, UK) by end of Q3 2023.
- Approximately 10 job reductions at the facility; total pre-tax charges $3.5-4.5M.
- Cash charges $0.4-0.8M for severance/exit; non-cash charges for accelerated depreciation.
- Majority of charges expected in Q2 2023; CEO cites misalignment with profitability goal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495423005515/0001654954-23-005515-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495423005515/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-005515

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer