ST. PETERSBURG, FL – Jabil's board of directors has approved a $200 million restructuring plan that includes headcount reductions.

In a regulatory filing, the company said its board approved a restructuring plan on Sept. 26 that will realign its cost base for stranded costs associated with the company's sale and realignment of its Mobility business and optimize the company's global footprint.

The restructuring action includes headcount reductions across its Selling, General and Administrative cost base and capacity realignment. The company did not say how many jobs would be cut. 

Jabil said it expects to recognize about $300 million in pre-tax restructuring and other related costs over the course of the company's 2024 fiscal year. The charges relating to the restructuring plan are currently expected to result in net cash expenditures of about $200 million that will be payable over the course of the company's 2024 and 2025 fiscal years.

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