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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