Cerence Announces Restructuring Plan For Foreign Operations, Expects $7.2M-$7.9M In Charges

Author: Benzinga Newsdesk | September 05, 2025 03:14pm

On September 2, 2025, Cerence Inc. (the "Company") announced a restructuring plan with respect to certain foreign operations intended to further reduce operating expenses and position the Company for profitable future growth (the "Plan"). The Company estimates that it will incur cash restructuring charges of approximately $7.2 to $7.9 million in connection with the Plan, primarily consisting of severance payments, payments in lieu of notice, employee benefits and related costs. The Company expects to incur the majority of these expenses in the first quarter of fiscal year 2026 and the implementation of the Plan will be substantially complete by the end of the first quarter of fiscal year 2026. Potential position eliminations are subject to applicable legal requirements, which may extend this process beyond the first quarter of fiscal year 2026 in certain cases. The charges that the Company expects to incur are subject to a number of assumptions, including applicable legal requirements, and actual expenses and charges may differ materially from the estimates disclosed above.

Posted In: CRNC