Dutch Bros Inc. (BROS): restructuring charge — Dutch Bros plans relocation of ~40% support staff to Phoenix; expects $24M-$31M charges

Dutch Bros Inc.

Estimated aggregate charges of $24M-$31M for relocation, retention, transition, and termination benefits.
Employee-related costs of $19M-$26M; consulting and other costs of $5M.
Capital expenditures of $6M-$10M for Phoenix office expansion.
Relocation to be completed by Jan 1, 2025; affected employees notified in February 2024.
Charges will be excluded from non-GAAP Adjusted EBITDA as non-recurring.

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

Dutch Bros Inc. announced a restructuring with charges of approximately $24 million to $31 million affecting support operations staff (approximately 40% of its total support operations staff).

Type: restructuring
Charge: approximately $24 million to $31 million
Affected area: support operations staff
Headcount: approximately 40% of its total support operations staff

Exact text from the filing

provided by the Company. These communications were largely completed by February 9, 2024. The Company anticipates incurring, or has incurred, aggregate charges of approximately $24 million to $31 million related to this initiative, consisting of (i) approximately $19 million to $26 million in employee-related costs, including relocation, retention and transition

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Dutch Bros Inc. filing history →

Source: SEC EDGAR

accession 0001866581-24-000029

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