Item 2.05. Costs Associated with Exit or Disposal Activities.
On
The Company estimates that it will incur approximately
The actions associated with the employee restructuring under the Plan are expected to be substantially complete by the end of the first quarter of 2023, subject to local law and consultation requirements.
The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates.
In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the Plan.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Board Compensation Waiver
On
Change in Titles and Responsibilities for
On
There were no immediate changes to
There are no family relationships between
Item 7.01. Regulation FD.
On
The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Forward-Looking Statements
This Current Report on Form 8-K may contain "forward-looking statements" about
the Company's future expectations, plans, outlook, projections and prospects.
Such forward-looking statements can be identified by the use of words such as
"should," "may," "intends," "anticipates," "believes," "estimates," "projects,"
"forecasts," "expects," "plans," "proposes" and similar expressions.
Forward-looking statements contained in this Current Report on Form 8-K include,
but are not limited to, statements about the Company's path to profitability,
the expected benefits of and timing of completion of the Plan and the expected
costs and charges of the Plan. Although the Company believes that the
expectations reflected in these forward-looking statements are based on
reasonable assumptions, there are a number of risks and uncertainties that could
cause actual results to differ materially from such forward-looking statements.
These risks and uncertainties include, among other things, the risk that the
restructuring costs and charges may be greater than anticipated; the risk that
the Company's restructuring efforts may adversely affect the Company's internal
programs and the Company's ability to recruit and retain skilled and motivated
personnel, and may be distracting to employees and management; the risk that the
Company's restructuring efforts may negatively impact the Company's business
operations and reputation with or ability to serve customers; the risk that the
Company's restructuring efforts may not generate their intended benefits to the
extent or as quickly as anticipated. Readers are urged to carefully review and
consider any cautionary statements and other disclosures, including the
statements made under the heading "Risk Factors" in the Company's Annual Report
on Form 10-K for the year ended
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 99.1 Press Release, datedJanuary 9, 2023 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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