Brief: Momentive Global Inc- Restructuring Plan Involves A Reduction Of The Company’S Workforce By Approximately 11%

Momentive Global

13/10/2022 13:42

Oct 13 (Reuters) - Momentive Global Inc  MNTV.O :
    * MOMENTIVE GLOBAL INC-  RESTRUCTURING PLAN INVOLVES A
REDUCTION
OF THE COMPANY’S WORKFORCE BY APPROXIMATELY 11%
    * MOMENTIVE GLOBAL INC- EXPECT THAT THE MAJORITY OF  COSTS
WILL BE
INCURRED AND PAID DURING THE FOURTH QUARTER OF 2022
    * MOMENTIVE GLOBAL INC -  ESTIMATE WILL INCUR APPROXIMATELY
$4.0
MILLION TO $5.0 MILLION IN CHARGES IN CONNECTION WITH THE
RESTRUCTURING PLAN
    * MOMENTIVE GLOBAL INC- EXPECT EXECUTION OF THE
RESTRUCTURING
PLAN, INCLUDING CASH PAYMENTS, WILL BE SUBSTANTIALLY COMPLETE BY
THE END OF FISCAL 2022
    * MOMENTIVE - ON OCT 10, COMMITTED TO PLAN DESIGNED TO
IMPROVE
OPERATING MARGIN, CREATE EFFICIENCIES IN GO-TO-MARKET MOTION,IN
OTHER AREAS THROUGHOUT CO
    * MOMENTIVE GLOBAL INC- POTENTIAL POSITION ELIMINATIONS IN
EACH
COUNTRY ARE SUBJECT TO LOCAL LAW AND CONSULTATION REQUIREMENTS

Source text for Eikon:  ID: 
Further company coverage:  MNTV.O 
 ((Reuters.Briefs@thomsonreuters.com;))