Seeking Alpha

Parametric sees $20M restructuring charge in Q4

  • PTC (PMTC) says that in connection to its plan to restructure its workforce, it expects to take a restructuring charge of about $20M.
  • $19M of the charge is attributed to termination benefits, with the remainder to facility consolidations.
  • The company expects cash expenditures will primarily be paid in Q114, and that the majority of the restructuring charge will be recorded in Q4 of this year.
  • The impact of the expense reductions will begin to be realized in Q114 with the full impact realized in Q214.
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