Pitney Bowes Provides Update on Accelerated Progress of Cost Rationalization Program and Increases Savings Targets
Pitney Bowes Inc. (PBI)
Last pitney bowes inc. earnings: 2/4 07:00 am
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Source: Business Wire
Management has Expeditiously Implemented ~$70 Million in Cost Reductions Over the Past Month and Identified New Opportunities for Strengthening Pitney BowesThe Cost Rationalization Program’s Increased Savings Target is $120 Million to $160 Million, Up from $60 Million to $100 Million STAMFORD, Conn.--(BUSINESS WIRE)--Pitney Bowes Inc. (NYSE: PBI) (“Pitney Bowes” or the “Company”), a global shipping and mailing company that provides technology, logistics and financial services, today announced an update on the first phase of the Company’s cost rationalization initiative, which was previously announced in late May 2024.The Company has identified and initiated approximately $70 million in cost savings, the majority of which has already been eliminated in the second quarter. Approximately $25 million of non-recurring charges associated with these efforts are expected to be recorded in the second quarter. The cost reductions announced today are anticipated to be largely reflected in the
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PBI
News
- Pitney Bowes Announces Leadership Transition in Global Ecommerce Segment [Yahoo! Finance]Yahoo! Finance
- Pitney Bowes Announces Leadership Transition in Global Ecommerce SegmentBusiness Wire
- Pitney Bowes' stock jumps on higher cost-savings target [Seeking Alpha]Seeking Alpha
- Pitney Bowes Provides Update on Accelerated Progress of Cost Rationalization Program and Increases Savings Targets [Yahoo! Finance]Yahoo! Finance
- Down -11.43% in 4 Weeks, Here's Why Pitney Bowes (PBI) Looks Ripe for a Turnaround [Yahoo! Finance]Yahoo! Finance
PBI
Earnings
- 5/2/24 - Beat
PBI
Sec Filings
- 7/2/24 - Form 8-K
- 5/28/24 - Form 4
- 5/28/24 - Form 4
- PBI's page on the SEC website