As previously announced, the Company is executing on its 2024 Productivity Plan and the Voluntary Retirement Plan to generate cost efficiencies. Together, these Exit and Restructuring plans are expected to generate approximately $120 million of net annualized cost savings. After realizing approximately $50 million of operating expense savings in 2023 and an incremental $25 million in the first quarter of 2024, the Company continues to expect approximately $60 million of incremental savings for the full year 2024. The total charges associated with the Exit and Restructuring plans are expected to be approximately $130 million. Total charges of $120 million have been incurred through the first quarter of 2024, with the remaining charges expected to be substantially complete by mid-2024.
Zebra Technologies Targets $120M in Annual Savings Through Exit and Restructuring Plans, Eyes Full Year Savings of $60M in 2024
Company Profile
Tue. 30 Apr 2024, 6:39am ET
Benzinga
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