Brief: Formfactor Inc - On October 25, 2022, Formfactor Adopted Restructuring Plans

FormFactor

26/10/2022 22:18

Oct 26 (Reuters) - FormFactor Inc  FORM.O :
    * FORMFACTOR INC - ON OCTOBER 25, 2022, FORMFACTOR ADOPTED
RESTRUCTURING PLANS
    * FORMFACTOR INC - PLANS INCLUDE LOWERING HEADCOUNT BY ABOUT
13%
OF WORKFORCE
    * FORMFACTOR INC - EXPECT ACTIONS DEFINED UNDER THIS PLAN
WILL BE
LARGELY COMPLETED BY END OF Q4 OF FISCAL 2022
    * FORMFACTOR - FINANCIAL IMPACT OF ACTION EXPECTED TO REDUCE
COST
STRUCTURE BY ABOUT $25 TO $30 MILLION ON ANNUALIZED BASIS ONCE
ACTIONS FULLY IMPLEMENTED
    * FORMFACTOR - PLANS INCLUDE LOWERING HEADCOUNT, WHICH IS
EXPECTED
TO RESULT IN RECORDING RESTRUCTURING CHARGES OF ABOUT $6.6
MILLION IN CASH

Further company coverage:  FORM.O 
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