JBL 8-K/A
Jabil Inc (JBL)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
(Amendment No. 1)
CURRENT REPORT
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EXPLANATORY NOTE
Item 2.05 Costs Associated with Exit or Disposal Activities.
The Company continues to expect the total amount of pre-tax restructuring and other related costs to be approximately $300 million, including the following estimated items:
| • | $150 million to $180 million of employee severance and benefit costs; |
| • | $80 million to $120 million of asset write-off costs; and |
| • | $30 million to $40 million of contract termination costs and other related costs. |
The Company continues to expect to incur these costs over the course of the Company’s fiscal year 2024.
The 2024 Restructuring Plan as discussed reflects the Company’s intention only. The exact timing of these charges and cash outflows, as well as the estimated cost ranges by category type, has not been finalized. Timing and cost may be affected by a variety of factors, including the finalization of timetables for the transition of functions, consultation with employees and their representatives, as well as the impact of jurisdictional statutory severance. The Company’s estimates for the charges discussed above exclude any potential income tax effects.
This Current Report on Form 8-K/A contains forward-looking statements, including those relating to our expectations regarding costs and charges. These statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially from our current expectations. Such factors include current economic and other conditions in the global marketplace, risks related to implementation of the 2024 Restructuring Plan, and the other factors described in the Company’s Annual Report on Form 10-K for the fiscal year ended August 31, 2023. We assume no obligation to update these forward-looking statements.
To the extent required by applicable rules, the Company will continue to file amendments to the Original 8-K as details of the 2024 Restructuring Plan are refined and estimates of related costs and charges are finalized.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JABIL INC. | ||||||
| (Registrant) | ||||||
| March 15, 2024 | By: | /s/ MICHAEL DASTOOR | ||||
| Michael Dastoor | ||||||
| Chief Financial Officer | ||||||