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© kheng-guan-toh-dreamstime.com Electronics Production | January 31, 2014

Celestica's restructuring actions – finally complete

It's been something ongoing ever since Celestica parted with BlackBerry in 2012. Restructuring actions were taken throughout the company's entire network, but now. it is finally over.
The actions intended to reduce the company's overall cost structure and to improve its margin performance. The company, has now announced the completion of these actions.

“We recorded aggregate restructuring charges of USD 72.0 million, comprised of USD 44.0 million in 2012 and USD 28.0 million in 2013, including USD 17.5 million recorded in the fourth quarter of 2013 (fourth quarter of 2012 — USD 16.7 million),” the company states in its fourth quarter fiscal report for 2013.

However, the company had estimated the total restructuring charges to be somewhere around USD 55 – 65 million, and were expecting it to be in the high end of the range. But the company exceeded its estimate when decisions were made to take additional restructuring actions during the fourth quarter of 2013. These actions were taken to: “further streamline and simplify our business and global operating network in response to the continuing challenging market environment,” as the company puts it.

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