Mativ Announces Initiatives Expected to Reduce Costs by $40 Million [Yahoo! Finance]
Mativ Holdings, Inc. (MATV)
Company Research
Source: Yahoo! Finance
Holdings, Inc. (NYSE: MATV) ("Mativ" or the "Company") today announced organizational realignment initiatives that will streamline organizational size and complexity, and leverage business-critical resources to enhance customer support. As a result of these initiatives, the Company expects to achieve an annualized run-rate of $20 million of overhead cost reduction in 2024 and an additional $20 million by the end of 2026, effectively reducing overhead costs by approximately 15% over that timeframe. The first wave of this initiative is primarily driven by workforce reductions and indexed toward senior levels of the organization. The second wave of savings will be unlocked by system integrations, further restructuring, and transactional efficiencies. The 2024 charges associated with these initiatives are estimated to be $15-$20 million, which are expected to be incurred predominantly in the first half of 2024. As part of the realignment, the Company will reorganize into two new segme
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MATV
News
- Mativ Holdings, Inc.'s (NYSE:MATV) Intrinsic Value Is Potentially 58% Above Its Share Price [Yahoo! Finance]Yahoo! Finance
- Mativ Announces Appointment of New Chair of its Board of Directors [Yahoo! Finance]Yahoo! Finance
- Mativ appoints Kimberly E. Ritrievi as new chair of its board [Seeking Alpha]Seeking Alpha
- Mativ Announces Appointment of New Chair of its Board of DirectorsBusiness Wire
- Mativ Announces Conference Call to Discuss First Quarter 2024 ResultsBusiness Wire
MATV
Earnings
- 2/21/24 - Beat
MATV
Sec Filings
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- 4/30/24 - Form 4
- MATV's page on the SEC website