Lamb Weston Plans Reducing Approximately 4% Of Global Workforce, And Eliminating Unfilled Job Positions
Portfolio Pulse from Benzinga Newsdesk
Lamb Weston is implementing a restructuring plan that includes reducing its global workforce by approximately 4%, closing a facility in Connell, Washington, and curtailing production lines in North America. The plan aims to generate $55 million in pre-tax cost savings and reduce capital expenditures by $100 million in fiscal 2025. The company expects to incur pre-tax charges of $200 million to $250 million.
October 01, 2024 | 9:33 pm
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Lamb Weston's restructuring plan involves workforce reduction, facility closure, and production curtailment, aiming for significant cost savings and reduced capital expenditures in fiscal 2025.
The restructuring plan is likely to positively impact Lamb Weston's stock price in the short term due to anticipated cost savings and reduced capital expenditures, despite the initial charges. The market often reacts favorably to cost-cutting measures that improve financial efficiency.
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