Brief: Wheels Up Experience Inc - On March 1, 2023, Wheels Up Experience Inc., A Delaware Corporation Announced That It Is Consummating A Restructuring Plan

Wheels Up Experience

01/03/2023 22:30

March 1 (Reuters) - Wheels Up Experience Inc  UP.N :
    * WHEELS UP EXPERIENCE INC -  ON MARCH 1, 2023, WHEELS UP
EXPERIENCE INC., A DELAWARE CORPORATION ANNOUNCED THAT IT IS
CONSUMMATING A RESTRUCTURING PLAN
    * WHEELS UP EXPERIENCE - PLAN TO STREAMLINE CO'S
ORGANIZATION,
REDUCE HEADCOUNT IN AREAS OF BUSINESS THAT DO NOT DIRECTLY
IMPACT CO'S OPERATIONS
    * WHEELS UP EXPERIENCE INC - EXPECTS TO REALIZE RUN-RATE
SAVINGS
OF APPROXIMATELY $30 MILLION ON AN ANNUALIZED BASIS
    * WHEELS UP EXPERIENCE INC - ESTIMATES THAT IT WILL INCUR
APPROXIMATELY $14 MILLION IN TOTAL PRE-TAX CHARGES IN CONNECTION
WITH PLAN
    * WHEELS UP EXPERIENCE- ACTIONS ASSOCIATED WITH EMPLOYEE
RESTRUCTURING UNDER PLAN CURRENTLY EXPECTED TO BE SUBSTANTIALLY
COMPLETE BY END OF Q1 OF 2023

Source text: [ID:http://bit.ly/3EJQKdy]
Further company coverage:  UP.N 

 ((Reuters.Briefs@thomsonreuters.com;))