Item 2.06 Material Impairments
On
Workers will remain employed through the 60-day WARN Act notice period, at which
point the terminations will be effective. The Company does not expect to incur
material severance obligations. The reduction in force will result in the
termination of substantially all of the Company's union employees, which is
expected to trigger withdrawal liabilities owed to certain multiemployer pension
plans which were recently estimated by such pension plans to be
The Company expects that it will incur material additional costs in association with actions that are contemplated pursuant to the reduction in force, which could include the impairment of assets and professional fees. The Company is unable at this time to estimate the full amount of such charges and impairments. The Company will file an amendment to this Form 8-K within four business days after it determines an estimate or range of estimates of these costs.
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