Kennametal (KMT) Accelerates Structural Changes from Simplification/Modernization
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 7/29/2026
- Visa (V) To Cut 7% Of Its Workforce, Totaling About 2,600 Jobs - Bloomberg
- HF Sinclair plans to spin off lubricants unit, close Canadian refinery
- SoFi Technologies (SOFI) Tops Q2 EPS by 1c ; Offers Guidance
- Crude Inventory Fell 7.2 Million Barrels Last Week - EIA
- S&P 500 ends higher as investors await tech earnings
- After-Hours Stock Movers: F, BE, STX, WDC, KLAC, SWKS, NXPI, CSGP, ENPH
- After-Hours Stock Movers: FFIV, CDNS, APLD, RMBS, ESI, SANM
- After-Hours Stock Movers: INTC, AMD, ARM, MXL, EW, DECK
- After-Hours Stock Movers: GOOGL, TSLA, NOW, IBM, TXN, MOH, URI
- After-Hours Stock Movers: SMCI, OKLO, XE, PEGA, CLDX, ALK
Kennametal Accelerates Structural Changes from Simplification/Modernization; Outlines Cost-Control Actions to Mitigate COVID-19 Headwinds
June 9, 2020 6:45 AM EDTPITTSBURGH, June 9, 2020 /PRNewswire/ -- Kennametal Inc. (NYSE: KMT) today is providing an update on its ongoing Simplification/Modernization initiative. In addition, it is announcing continuing cost-control actions to mitigate the lower market conditions associated with COVID-19.
Simplification/Modernization
As part of its ongoing Simplification/Modernization initiative, the Company is accelerating its structural cost reduction plans. A restructuring of approximately 10 percent of salaried employees globally is expected to be substantially complete in the first half of fiscal 2021.
"Within our Simplification/Modernization initiative, the current market conditions provide an... More
