January 5, 2018 / 9:12 PM / 9 months ago

BRIEF-Heidrick & Struggles Announces Restructuring Plan To Reduce Overall Costs

Jan 5 (Reuters) - Heidrick & Struggles International Inc :

* HEIDRICK & STRUGGLES INTERNATIONAL INC - EXPECTED ANNUAL COST SAVINGS FROM RESTRUCTURING RANGES FROM $11 MILLION TO $13 MILLION

* HEIDRICK & STRUGGLES INTERNATIONAL - RELATED TO RESTRUCTURING FIRM CURRENTLY EXPECTS TO INCUR PRE-TAX CHARGES OF ABOUT $15 MILLION TO $18 MILLION​

* HEIDRICK & STRUGGLES INTERNATIONAL INC - PRIMARY COMPONENTS OF RESTRUCTURING INCLUDE A WORKFORCE REDUCTION

* HEIDRICK & STRUGGLES INTERNATIONAL INC - ‍PLANS TO RECOGNIZE PRE-TAX CHARGES RELATED TO RESTRUCTURING IN Q4 OF 2017 ​

* HEIDRICK & STRUGGLES RESTRUCTURING TO STRENGTHEN FINANCIAL PERFORMANCE, REALIGN ORGANIZATION TO ENHANCE BUSINESS GROWTH

* HEIDRICK & STRUGGLES INTERNATIONAL - ANTICIPATES RECORDING NON-CASH IMPAIRMENT CHARGE OF $6 MILLION TO $12 MILLION IN Q4 OF 2017

* HEIDRICK & STRUGGLES - FOR 2017, EXPECTS TO INCUR TAX EXPENSE IN RANGE OF $10 MILLION TO $25 MILLION RELATED TO VALUATION OF ITS U.S. DEFERRED TAX ASSETS

* HEIDRICK & STRUGGLES INTERNATIONAL INC - PRIMARY COMPONENTS OF RESTRUCTURING ALSO INCLUDE ELIMINATION OF TWO EXECUTIVE OFFICER ROLES

* HEIDRICK & STRUGGLES INTERNATIONAL - NON-CASH IMPAIRMENT CHARGE TO WRITE OFF ASSETS RELATED TO ITS LEADERSHIP CONSULTING BUSINESS​

* HEIDRICK & STRUGGLES INTERNATIONAL - WILL RECOGNIZE CHARGE OF ABOUT $9 MILLION TO ESTABLISH VALUATION ALLOWANCE FOR FOREIGN TAX CREDIT CARRY FORWARD​ Source text for Eikon: Further company coverage:

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