Juniper Networks Expects To Reduce Worldwide Headcount By Approximately 440 - Filing
Portfolio Pulse from Benzinga Newsdesk
Juniper Networks plans to reduce its global workforce by about 440 employees, incurring severance and related costs of around $40 million. Other restructuring costs are expected to be around $19 million. The restructuring plan, which was expanded in September 2023, is expected to be completed by Q1 2024. The company also disclosed about $14 million in costs related to asset impairments.
October 05, 2023 | 8:20 pm
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Juniper Networks' restructuring plan, including job cuts and asset impairments, could lead to short-term financial strain but may improve long-term profitability.
The restructuring plan, including job cuts and asset impairments, will lead to significant costs in the short term, which could negatively impact Juniper Networks' financial performance and potentially its stock price. However, these actions could improve the company's profitability in the long term by reducing its workforce and associated costs.
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IMPORTANCE 75
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