iRobot (IRBT) has released an update to notify the public and investors about termination and asset disposition expenses.
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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.
