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Hyster-Yale, Inc. (NYSE:HY) today announced a restructuring plan that furthers progress toward the operational and overhead structures required to serve customers and shareholders optimally. Current economic and industry dynamics provide a catalyst to further optimize the business' cost structures, reducing its break-even point to better align with current low industry volumes, particularly in the industrial segment. This action better positions the Company for enhanced profitability when industry volumes recover, likely in mid-2026.
This restructuring plan will reduce the Company's global workforce by approximately 575 employees, spread across global manufacturing and staff functions, to help to address the current mismatch in recent shipping and booking rates. This action is expected to result in a one-time pre-tax charge of approximately $21 million in Q4 2025 and generate roughly $40 to $45 million in annualized cost savings beginning in Q1 2026. These actions, and their results, are additive to previously announced restructuring initiatives.
The Hyster-Yale executive team understands that while these are difficult decisions, they are necessary to ensure that the Company remains on its well-defined strategic path which is outlined in the investor presentation on its website. The executive team greatly appreciates the contributions of all colleagues and will support those affected through this transition. The executive team remains focused on actions to position the Company for sustainable, long-term profitable growth.
Posted In: HY
