Brief: Beauty Health Co Says Company Plans To Reduce Its Current Global Workforce By 10%,
16/11/2023 16:09
Nov 16 (Reuters) - Beauty Health Co SKIN.O :
* BEAUTY HEALTH CO - COMPANY PLANS TO REDUCE ITS CURRENT
GLOBAL
WORKFORCE BY 10%,
* BEAUTY HEALTH CO - IN CONNECTION WITH THIS WORKFORCE
REDUCTION,
COMPANY ESTIMATES THAT IT WILL INCUR CHARGES IN Q4 OF 2023 OF
APPROXIMATELY $5.1 MILLION
* BEAUTY HEALTH CO - PLANS TO REDUCE ITS CURRENT GLOBAL
WORKFORCE
BY 10%, INCLUDING 95 EMPLOYEES THAT WILL BE TERMINATED
* BEAUTY HEALTH CO - EXPECTS TO REALIZE WORKFORCE REDUCTION
RUN-RATE SAVINGS OF APPROXIMATELY $17 MILLION ON AN ANNUALIZED
BASIS STARTING IN Q4 OF 2023
* BEAUTY HEALTH-MAY INCUR ADDITIONAL COSTS NOT CURRENTLY
CONTEMPLATED DUE TO EVENTS THAT MAY OCCUR AS RESULT OF, OR THAT
ARE ASSOCIATED WITH, REDUCTION
* BEAUTY HEALTH CO SEES PORTION OF SAVINGS WILL BE OFFSET BY
YEAR-OVER-YEAR INCREASES IN EMPLOYEE COMPENSATION AND VENDOR
PRICE INCREASES
* BEAUTY HEALTH CO - WORKFORCE REDUCTION INCLUDES 63
EMPLOYEES IN
THE UNITED STATES
Source text for Eikon: ID:
Further company coverage: SKIN.O
((Reuters.Briefs@thomsonreuters.com;))