Novanta Inc. has announced a significant corporate reorganization as part of its 2025 Restructuring Plan, aimed at streamlining operations and aligning with long-term strategic goals. The plan, set to commence in June 2025, includes regionalizing manufacturing operations, expediting site closures, and streamlining management structures. Novanta anticipates incurring pre-tax charges of approximately $20 million to $25 million, with savings estimated at $20 million annually upon completion. The restructuring is expected to be substantially completed within 18 months, though the company notes that actual costs may vary due to unforeseen events.
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