Viatris Inc

+0.06 (+0.63%)
7:46:59 PM EDT: $9.57 +0.04 (+0.42%)
Debt Financing / Related, Layoffs, Restructuring / Reorganization

Viatris Announces Additional Details Of Previously Disclosed Global Restructuring Initiative

Published: 12/11/2020 13:49 GMT
Viatris Inc (VTRS) - Viatris Inc. Announces Additional Details of Previously Disclosed Global Restructuring Initiative.
Viatris Inc - Targeting at Least $1 Billion in Cost Synergies to Be Achieved by End of 2024 Or Sooner.
Viatris Inc - Up to 20% of Global Workforce May Be Impacted.
Viatris-plans to Continue to Rationalize Its Global Manufacturing,supply Chain Network by Either Closing, Downsizing Or Divesting Up to 15 Facilities.
Viatris Inc - Company Expects to Incur Total Pre-tax Charges Ranging Between $500 Million and $600 Million.
Viatris Inc - Workforce Reductions at Impacted Manufacturing Sites Announced Today Are Expected to Occur in Phases Over Next Few Years.
Viatris Inc - Expects Potential Annual Savings Related to These Committed Restructuring Activities to Be Between $250 Million and $300 Million.