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Lamb Weston Plans Reducing Approximately 4% Of Global Workforce, And Eliminating Unfilled Job Positions

Author: Benzinga Newsdesk | October 01, 2024 04:33pm

Restructuring Plan

Restructuring actions expected to generate approximately $55 million of pre-tax cost savings in fiscal 2025 and a $100 million reduction in capital expenditures in fiscal 2025
Key actions include closing Connell, Washington facility, temporarily curtailing production lines and schedules in North America, reducing approximately 4% of global workforce, and eliminating unfilled job positions
Expected to record total estimated pre-tax charges of $200 million to $250 million

Posted In: LW