By Paul Ziobro
Xylem plans job cuts across all of its business and functions as part of a restructuring plan to streamline its organization.
The Washington-based water technology company on Thursday said it expects to take on between $95 million and $115 million in pre-tax charges this year because of the restructuring, including about $19 million in the fourth quarter of 2024. The charges include employee severance, termination benefits and associated costs.
The company didn't disclose the number of job cuts. The majority will occur during fiscal 2025, while some will stretch into 2026. The restructuring aligns with an earlier disclosed plan to simplify the company, it said, thereby strengthening its competitive position and allow it to better serve customers.
Xylem also said it expects its latest quarterly results will top the guidance it provided in October.
The company is scheduled to report fourth-quarter results on Tuesday.
Write to Paul Ziobro at paul.ziobro@wsj.com
(END) Dow Jones Newswires
January 30, 2025 16:46 ET (21:46 GMT)
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