TE Connectivity Ltd. TEL disclosed Thursday that its board of directors has approved further restructuring efforts in a bid to contain costs in the sensor company’s transportation solutions, industrial solutions and communications solutions segments. The company anticipates that it will see total restructuring charges of $250 million during fiscal 2023, most of which will be related to employee termination benefits, according to a morning filing with the Securities and Exchange Commission. TE Connectivity expects that $104 million of these charges will be incurred in the first three months of its 2023 fiscal year. It also expects that its restructuring actions will be complete in fiscal 2025. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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