Knoll: Costs Associated With Exit Or Disposal Activities
The following excerpt is from the company's SEC filing.
On December 5, 2013, Knoll, Inc. (the "Company") approved certain restructuring actions. These actions will result in restructuring charges of approximately $7.0 million in the fourth quarter of 2013. The initiatives relate primarily to: (1) headcount reductions in Office manufacturing as part of the Company's previously announced strategic supply chain transformation activities; and (2) headcount reductions in the Europe business associated with factory overhead consolidations. All of these actions are expected to be complete by March 31, 2014.The restructuring changes consist primarily of cash severance
and employment termination related expenses. The charges break out among the described actions as follows:Office Manufacturing: approximately $3.4 million
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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