CSS Industries Announces Restructuring Plan and Additional Measures to Improve Its Business and Financial Performance
CSS INDUSTRIES (CSS)
Last css industries earnings: 8/1 04:15 pm
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US:NYSE Investor Relations:
cssindustries.com/investor-relations
Company Research
Source: Business Wire
Company revises fiscal 2019 guidance and provides fiscal 2020 projections Key Highlights Total cost base to be reduced by approximately $20 million, net of restructuring costs Salaried workforce to be reduced by approximately 12 percent PLYMOUTH MEETING, Pa.--(BUSINESS WIRE)-- CSS Industries, Inc. (NYSE: CSS) announced today a comprehensive restructuring plan to significantly reduce its cost base, while streamlining the organization in a manner designed to improve business performance, profitability and cash flow generation. Development of this restructuring plan initially began in connection with the Company’s previously announced management project. Under the restructuring plan, ongoing run-rate spending (primarily attributable to selling, general and administrative expense) is expected to be reduced approximately $22 million by the end of fisc
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