June 4, 2020 / 12:40 PM / a month ago

BRIEF-Carpenter Technology Expects To Record Pre-Tax Charge Of About $10 Mln In Q4

June 4 (Reuters) - Carpenter Technology Corp:

* CARPENTER TECHNOLOGY ANNOUNCES ADDITIONAL ACTIONS TO ENHANCE LONG-TERM SUCCESS

* CARPENTER TECHNOLOGY - PLAN INCLUDES REDUCING ABOUT 20% OF CO’S TOTAL GLOBAL SALARIED POSITIONS

* CARPENTER TECHNOLOGY - REDUCING POSITIONS TO GENERATE ABOUT $30 TO $35 MILLION OF ANNUAL COST SAVINGS

* CARPENTER TECHNOLOGY - EXPECTS TO RECORD PRE-TAX CHARGE OF ABOUT $10 MILLION IN Q4

* CARPENTER TECHNOLOGY- REVIEWING, PRIORITIZING CAPITAL INVESTMENTS

* CARPENTER TECHNOLOGY - IMPLEMENTING GLOBAL HIRING FREEZE, DEFERRING ANNUAL MERIT INCREASES FOR MOST SALARIED EMPLOYEES

* CARPENTER TECHNOLOGY - EFFECTING TEMPORARY FURLOUGHS FOR SOME PRODUCTION, MAINTENANCE, SALARIED EMPLOYEES

* CARPENTER TECHNOLOGY - WITHDRAWING PREVIOUSLY PROVIDED SEGMENT OPERATING INCOME OUTLOOK FOR CURRENT QUARTER

* CARPENTER TECHNOLOGY- EXPECTS TO GENERATE MEANINGFUL AMOUNT OF CASH FLOW IN Q4 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below