iRobot (IRBT) has released an update to notify the public and investors about termination and asset disposition expenses.
After terminating its Merger Agreement, the Company declared an operational restructuring plan aimed at reducing its workforce by about 350 employees, or 31% of its global staff as of the end of 2023. The Company anticipates incurring $12 million to $13 million in restructuring charges primarily for severance and related benefits, mostly within the first half of 2024. These forecasts are based on assumptions and actual results may vary; additional unforeseen costs may arise in connection with the restructuring.
For further insights into IRBT financials, check out TipRanks’ Financials page.