Marriott Vacations Worldwide Corp

NYSE:VAC   3:59:58 PM EDT
175.25
+6.07 (+3.59%)
Debt Financing / Related, Layoffs, Other Pre-Announcement

Marriott Vacations Worldwide Says Expects to Cut 3,300 Jobs

Published: 09/14/2020 22:31 GMT
Marriott Vacations Worldwide Corp (VAC) - Marriott Vacations Worldwide - on September 10 Approved a Workforce Reduction Plan, Currently Expected to Impact Approximately 3,300 Associates.
Marriott Vacations Worldwide Corp - Expects That Job Elimination Pursuant to Workforce Reduction Will Take Effect in Mid-november 2020 Or After.
Marriott Vacations Worldwide Corp - Estimates Will Incur About $25 to $30 Million in Restructuring and Related Charges Due to Lay Offs.
Marriott Vacations Worldwide Corp - Majority of Workforce Reduction Costs Are Expected to Be Incurred in Remainder of Fiscal 2020.
Marriott Vacations Worldwide Corp - $25 to $30 Million of Restructuring and Related Charges is Expected to Result in Future Cash Expenditures.
Marriott Vacations - for Exchange Business, While Exchange Transactions Rebounded Over Summer, Business Activity, Revenue Remain Substantially Lower.