Nielsen announced a new plan to cut costs and create operational efficiencies that will result in the reduction of its global workforce by about 3,500 employees.
The company expects that plan to generate savings of about $250 million annually after taking a 2020 pre-tax restructuring charge of about $150 million to $170 million dollars. Nielsen had estimated that the charges would total between $120 million and $140 million.
Nielsen also estimates $40 to $50 million of non-cash, pre-tax impairment charges in the second quarter related to these planned exits.
As part of the plan, Nielsen said it will exit selected businesses and markets, but didn’t specify in its announcement.
