Seeking Alpha

TimkenSteel to recognize Q2 restructuring charges from organizational changes

|About: TimkenSteel Corporation (TMST)|By:, SA News Editor

In June 2019, TimkenSteel (NYSE:TMST) completed organizational changes that resulted in ~55 position eliminations.

The company expects to incur Q2 restructuring charges of $3.6M and expects savings of ~$2M in fiscal 2019 with annual savings of ~$7M beginning in fiscal 2020.

Subscribe for full text news in your inbox