John Wiley & Sons sees Q4 restructuring charges $25M John Wiley & Sons is finalizing plans to realize approximately $80M in cost savings on a run-rate basis by the end of April 2014, working with a third-party restructuring firm since January. As part of the implementation of the restructuring program, Wiley expects to record a restructuring charge of approximately $25M in Q4. At least one additional charge in FY14 is expected as phases of the program are implemented over the course of the year. The charges will be related principally to severance and other employee separation-related benefits as well as other business transition-related costs.
John Wiley & Sons sees Q3 restructuring charge of about $18M The company expects to record a restructuring charge of approximately $18M in the third quarter. Roughly half of the expected charge is related to the completion of facility consolidations and dispositions in connection with prior restructuring actions. The restructuring charge will also include severance costs for reorganization and consolidation plans, primarily in Research and books, consistent with the November reorganization announcement.