other material
confidence high
sentiment negative
materiality 0.60
Root Inc. updates restructuring charges: $6.8M severance, $2.4M real estate costs in Q1 2022
Root, Inc.
- Recognized $6.8M severance and benefits charges in Q1 2022; $4.3M expected in cash expenditures.
- Expects real estate exit costs of approx. $2.4M from accelerated amortization of right-of-use assets and leasehold improvements.
- Company continues to review potential additional restructuring costs; further amendments may follow.