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BRIEF-CDI Corp adopts restructuring plan to align organizational structure
October 6, 2016 / 9:51 PM / a year ago

BRIEF-CDI Corp adopts restructuring plan to align organizational structure

Oct 6 (Reuters) - Cdi Corp

* On September 30, 2016, co adopted restructuring plan to further align organizational structure, facilities and resource utilization

* Part of restructuring plan involves re-aligning capacity and organization of our energy chemicals & infrastructure business - SEC filing

* Expect restructuring under plan to be “substantially completed” by end of 2016

* Record a restructuring charge of approximately $3.1 million to $3.4 million in the third quarter of 2016-SEC filing

* Approximately $2.6 million to $2.7 million of restructuring charge will result in future cash expenditures

* Of total restructuring charge about $1.9 million is related to facility consolidations and about $1.0 million relates to employee severance Source: (bit.ly/2dOlCvf) Further company coverage:

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