Brief: Mativ Announces Initiatives Expected To Reduce Costs By $40 Million

Mativ Holdings

24/01/2024 23:22

Mativ Holdings Inc  MATV.N :
    * MATIV ANNOUNCES INITIATIVES EXPECTED TO REDUCE COSTS BY
$40
MILLION
    * MATIV HOLDINGS INC - FIRST WAVE OF THIS INITIATIVE IS
PRIMARILY
DRIVEN BY WORKFORCE REDUCTIONS
    * MATIV HOLDINGS INC: ORGANIZATIONAL REALIGNMENT INITIATIVES
THAT
WILL STREAMLINE ORGANIZATIONAL SIZE AND COMPLEXITY
    * MATIV HOLDINGS INC: ORGANIZATIONAL REALIGNMENT INITIATIVES
THAT
WILL STREAMLINE ORGANIZATIONAL SIZE AND COMPLEXITY
    * MATIV HOLDINGS INC - SECOND WAVE OF SAVINGS WILL BE
UNLOCKED BY
SYSTEM INTEGRATIONS, FURTHER RESTRUCTURING, AND TRANSACTIONAL
EFFICIENCIES
    * MATIV HOLDINGS INC - 2024 CHARGES ASSOCIATED WITH THESE
INITIATIVES ARE ESTIMATED TO BE $15-$20 MILLION
    * MATIV HOLDINGS INC: WILL REORGANIZE INTO TWO NEW SEGMENTS
STARTING IN Q1 2024
    * MATIV HOLDINGS INC - EXPECTS TO ACHIEVE AN ANNUALIZED
RUN-RATE
OF $20 MILLION OF OVERHEAD COST REDUCTION IN 2024 AND AN
ADDITIONAL $20 MILLION BY END OF 2026

Source text for Eikon:  ID:nBwjXLYNa 
Further company coverage:  MATV.N