Perrigo Launches Project Energize To Improve Efficiency, Cut Costs; To Cut 6% Jobs - Update

RTTNews | 488 days ago
Stocktwits
Perrigo Launches Project Energize To Improve Efficiency, Cut Costs; To Cut 6% Jobs - Update

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, consumer products company Perrigo Co. plc (PRGO) said it is launching Project Energize - a global investment and efficiency program to drive the next evolution of capabilities and organizational agility.

This move is the next stage of its self-care journey - evolving to One Perrigo. It follows the successful transformation of the company into a pure-play consumer self-care company.

This three-year program is expected to produce significant benefits in the Company's long-term business performance by enabling its One Perrigo growth strategy, increasing organizational agility and mitigating impacts from augmenting and strengthening the infant formula business.

Project Energize will be initiated in the first quarter of 2024, subject to local law and consultation requirements, and is expected to deliver an annualized pre-tax savings in the range of $140 million to $170 million by 2026.

The restructuring activities as part of Project Energize are expected to result in the net reduction of approximately 6% of total Perrigo roles.

Restructuring and related charges associated with these actions are estimated to be in the range of $140 million to $160 million and are expected to be substantially incurred by the end of 2026.

Tags: PRGO
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Perrigo Recalls Select CVS Health, H-E-B Baby Premium Infant Formula

Perrigo Recalls Select CVS Health, H-E-B Baby Premium Infant Formula

Perrigo Co. plc is recalling select Premium Infant Formula with Iron Milk-Based Powder sold under CVS Health and H-E-B Baby brands at the retailer and warehouse level citing elevated Vitamin D levels than permitted, according to the U.S. Food and Drug Administration. The recall involves three lots within one batch, or 16,500 cans, of store brand Premium Infant Formula with Iron Milk-Based Powder.
RTTNews | 324 days ago
Perrigo Guides FY24 Well Below Estimates - Update

Perrigo Guides FY24 Well Below Estimates - Update

While reporting financial results for the fourth quarter on Tuesday, consumer products company Perrigo Co. plc (PRGO) initiated its adjusted earnings, revenue and organic net sales growth guidance for the full-year 2024.
RTTNews | 488 days ago
Perrigo Appoints Patrick Lockwood-Taylor As President And CEO

Perrigo Appoints Patrick Lockwood-Taylor As President And CEO

Pharma company Perrigo Company plc (PRGO) announced Thursday the appointment of industry professional Patrick Lockwood-Taylor as its new President, Chief Executive Officer and member of the Board of Directors, effective June 30, 2023.
RTTNews | 752 days ago
U.S. Dollar Advances After Hot PCE Data

U.S. Dollar Advances After Hot PCE Data

The U.S. dollar strengthened against its major counterparts in the New York session on Friday, after a data showed that the Federal Reserve's preferred gauge of inflation accelerated in May.
RTTNews | 2 days ago
Swiss Market Ends On Buoyant Note

Swiss Market Ends On Buoyant Note

The Switzerland market closed on a firm note on Friday, in line with markets across Europe, as trade tensions eased following the U.S. and China reaching an agreement.
RTTNews | 2 days ago
European Stocks Close Higher As Trade Tensions Ease

European Stocks Close Higher As Trade Tensions Ease

European stocks closed higher on Friday as trade tensions eased after United States struck a deal with China to expedite rate earth shipments. The deal marks a significant step towards resolving the ongoing trade war between the world's two largest economies.
RTTNews | 2 days ago
U.S. Consumer Sentiment Improves Slightly More Than Previously Estimated In June

U.S. Consumer Sentiment Improves Slightly More Than Previously Estimated In June

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved by slightly more than previously estimated in the month of June. The University of Michigan said its consumer sentiment index for June was upwardly revised to 60.7 from a preliminary reading of 60.5.
RTTNews | 2 days ago
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