Item 2.05 Costs Associated with Exit or Disposal Activities.
In light of the Company's evolution to an organization that is selling larger
integrated solutions in a world where there are shifts in global trade lanes and
persistent inflationary pressures, on
The Plan is expected to reduce the Company's annualized cost base by
approximately
Forward-Looking Statements
This current report on Form 8-K contains "forward-looking statements", within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements generally can
be identified by use of statements that include phrases such as "believe,"
"expect," "anticipate," "intend," "plan," "foresee," "may," "will," "likely,"
"estimates," "potential," "continue" or other similar words or phrases. Such
forward-looking statements include statements regarding the timing and scope of
the Plan, the amount and timing of the related charges and cash expenditures;
the intended objectives of the Plan; and the expected cost savings resulting
from the Plan. Many factors could affect the actual results of the Plan, and
variances from the Company's current expectations regarding such factors could
cause actual results of the Plan to differ materially from those expressed in
these forward-looking statements. These include, among other things, (i) the
preliminary nature of the Company's estimates of the charges and cash
expenditures to be incurred in connection with the Plan, which are subject to
change as the Company makes decisions and refines these estimates over time;
(ii) timing delays in implementing the Plan because of legal requirements or
involvement of third parties in the case of real estate, and (iii) potential
disruption to the Company's business and operations as it implements the Plan. A
discussion of these and other risks and uncertainties that could cause the
Company's actual results to differ materially from these forward-looking
statements is included in the documents that the Company files with the
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101).
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