Allstate Corp (The)

NYSE:ALL   3:33:45 PM EDT
90.59
-0.66 (-0.72%)
Debt Financing / Related, Layoffs, Restructuring / Reorganization

Allstate Says Restructuring Plan That Will Impact About 3,800 Employees Is Being Implemented

Published: 09/30/2020 20:51 GMT
Allstate Corp (ALL) - Allstate Corp - Announces Expected Third Quarter Restructuring and Other Charges.
Allstate Corp - to Lower Costs, a Restructuring Plan is Being Implemented Which Will Impact About 3,800 Employees.
Allstate - Expects to Incur Restructuring Charge of About $290 Million, Pre-tax, With About $210 Million to $220 Million, Pre-tax, to Be Recognized During Q3 2020.
Allstate - Expects to Incur Restructuring Charge of $50 Million to $60 Million, Pre-tax, to Be Recognized in Q4, Any Remaining Charges to Be Recognized in H1 2021.
Allstate - Additionally, Expects to Incur Real Estate Exit Costs of About $80 Million, Pre-tax, Resulting From Office Closures.