By Adriano Marchese
Resources Connection is planning to slash jobs to save on costs and streamline its operations, according to regulatory filings Friday.
The professional services firm said that it has authorized a reduction of its global management and administrative workforce to improve efficiencies, but didn't disclose how many employees it will lay off.
The layoffs, which are expected to be complete by the third quarter of fiscal 2025, are expected to save the company about $4 million to $5 million in the second half of the fiscal year, and then $8 million to $10 million annually going forward.
Resources Connection earmarks about $2.5 million to $3 million for restructuring charges which it will recognize in the third quarter. The charges will largely be for employee termination benefits.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 06, 2024 09:36 ET (14:36 GMT)
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