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2025-11-20 05:54
- Hyster-Yale (HY) on Wednesday said it will reduce its global workforce by about 575 employees under a restructuring plan aimed at lowering costs amid weak economic and industry conditions.
- The company said the actions are intended to better align its operations with low industry volumes, especially in the industrial segment, and to reduce its break-even point.
- Hyster-Yale expects a one-time pre-tax charge of about $21 million in the fourth quarter of 2025 and annualized cost savings of $40 million to $45 million starting in the first quarter of 2026.
- Source: Press Release
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