The Hershey Company (HSY) has released an update to notify the public and investors about termination and asset disposition expenses.
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The Board of Directors of a company has greenlighted an ambitious productivity plan, “Advancing Agility & Automation,” aimed at refining the supply chain, reducing administrative costs, and embracing technology for better efficiency. The initiative, running until 2026, is projected to cost $200-$250 million, with the bulk going to restructuring and tech upgrades. It’s a tough pill to swallow with expected workforce cuts, but the payoff is a hefty $300 million in annual savings post-completion.
For further insights into HSY financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.