Viavi announces restructuring plan, to cut 5% of global workforce

On February 1, the company approved a restructuring and workforce reduction plan intended to improve operational efficiencies and better align the company’s workforce with current business needs and strategic growth opportunities. The company expects approximately 5% of its global workforce to be affected and estimates it will incur charges of approximately $15M in connection with the Plan. The company anticipates the Plan to be substantially complete by the end of fiscal 2023.