WORKFORCE REBALANCING AND SITE-RATIONALIZATION CHARGES |
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| WORKFORCE REBALANCING AND SITE-RATIONALIZATION CHARGES | NOTE 13. WORKFORCE REBALANCING AND SITE-RATIONALIZATION CHARGES During the three months ended June 30, 2025, the Company initiated actions to reduce our overall cost structure and increase our operating efficiency which we expect to continue through the end of the fiscal year 2026. We expect these actions will result in workforce rebalancing charges (the “Fiscal 2026 Program”) of approximately $80 million. During the year ended March 31, 2025, the Company implemented actions to reduce our overall cost structure and increase our operating efficiency (the “Fiscal 2025 Program”). The total charges incurred related to the Fiscal 2025 Program were $162 million, consisting of $114 million in workforce rebalancing charges and $48 million in charges related to ceasing to use leased and owned fixed assets. The Company expects that these actions will reduce future payroll costs, rent expenses and depreciation of property and equipment. The following table presents the segment breakout of charges incurred during the three months ended June 30, 2025 and 2024.
The following table presents the classification of workforce rebalancing and site-rationalization activities in the Consolidated Income Statement during the three months ended June 30, 2025 and 2024.
The following table presents the components of and changes in our workforce rebalancing liabilities during the three months ended June 30, 2025.
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