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John Wiley & Sons sees Q4 restructuring charges $25M

John Wiley & Sons is finalizing plans to realize approximately $80M in cost savings on a run-rate basis by the end of April 2014, working with a third-party restructuring firm since January. As part of the implementation of the restructuring program, Wiley expects to record a restructuring charge of approximately $25M in Q4. At least one additional charge in FY14 is expected as phases of the program are implemented over the course of the year. The charges will be related principally to severance and other employee separation-related benefits as well as other business transition-related costs.