Thermo Fisher Scientific Says In 2023, Severance Actions Associated With Facility Consolidations, Cost Reduction Measures Affected About 4% Of Workforce; Identified Restructuring Actions That Will Result In Additional Charges Of About $65M
Portfolio Pulse from Benzinga Newsdesk
Thermo Fisher Scientific has announced that in 2023, severance actions related to facility consolidations and cost reduction measures will affect about 4% of its workforce. The company has also identified restructuring actions that will result in additional charges of about $65M, according to an SEC filing.
November 03, 2023 | 5:21 pm
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Thermo Fisher Scientific's restructuring and workforce reduction may lead to short-term stock price volatility. However, the cost reduction measures could improve the company's long-term financial health.
The news directly pertains to Thermo Fisher Scientific and its financial and operational decisions. While workforce reduction and restructuring can lead to short-term uncertainty and stock price volatility, these measures are often aimed at improving long-term profitability and financial health. Therefore, the impact on the stock price could be neutral in the short term.
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