TPI Composites to Cut 20% of Workforce in Turkey; Shares Rise After Hours-March 2024-www.financetom.com

TPI Composites to Cut 20% of Workforce in Turkey; Shares Rise After Hours

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

TPI Composites to Cut 20% of Workforce in Turkey; Shares Rise After Hours

Dec 31, 2024 2:12 PM

04:56 PM EST, 12/31/2024 (MT Newswires) -- TPI Composites ( TPIC ) said Tuesday it is cutting about 20% of jobs at its manufacturing facilities in Turkey under a restructuring plan amid a projected weak European demand in 2025 for its wind blade exports.

The company expects pretax restructuring charges of $9 million to $11 million, which it intends to exclude from its non-GAAP financial measures, it said in a US Securities and Exchange Commission filing.

Additional charges or cash expenditures may be incurred from unexpected events following the restructuring initiative, TPI said.

Shares of TPI Composites ( TPIC ) were advancing nearly 5% in after-hours trading.

Previous page： Travel tech firm Navan's IPO raises about $923 million Next page： Travel tech firm Navan's IPO raises about $923 million

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Travel tech firm Navan's IPO raises about $923 million

Oct 29, 2025

(Reuters) -Corporate travel and expense company Navan on Wednesday priced its initial public offering at $25 per share, within its marketed range of $24 to $26 per share, raising about $923.1 million and reinforcing a strong momentum for fresh flotations. The Palo Alto, California-based firm sold 30 million shares to raise $750 million, while existing stockholders sold about 6.9 million...

Travel tech firm Navan's IPO raises about $923 million

Oct 29, 2025

Oct 30 (Reuters) - Corporate travel and expense company Navan on Wednesday priced its initial public offering at $25 per share, within its marketed range of $24 to $26 per share, raising about $923.1 million and reinforcing a strong momentum for fresh flotations. The Palo Alto, California-based firm sold 30 million shares to raise $750 million, while existing stockholders sold...

Trump cuts China tariffs to 47% after 'amazing' Xi meeting

Oct 29, 2025

BUSAN, South Korea (Reuters) -U.S. President Donald Trump said on Thursday he had agreed to reduce tariffs on China to 47% in exchange for Beijing resuming U.S. soybean purchases, keeping rare earths exports flowing and cracking down on the illicit trade of fentanyl. His remarks after face-to-face talks with Chinese President Xi Jinping in the South Korean city of Busan,...

Why Is FMC Corporation Stock Falling Overnight?

Oct 29, 2025

FMC Corporation ( FMC ) shares are trending on Thursday. Check out the current price of FMC stock here. Shares of the Pennsylvanian company dropped 26.55% in after-hours trading on Wednesday to $21.33 after the company reported a $510 million write-down on its India commercial business and announced a dividend cut. India Business Write-Down Drives Losses FMC Corporation ( FMC...