The company’s board approved a previously announced restructuring plan aimed at lowering its cost structure that was under discussion prior to the full impact of the coronavirus outbreak being known. The cuts announced are considerably deeper than the $325-425 million it was considering before. The new plan consists of $175 million in cash charges that includes $55 million in lease terminations, $25 million in employee severance and $95 million in contract termination costs. The non cash charges of $375 million include $290 million related to the writeoff of the New York City flagship at the FAO Schwarz location and $60 ... Log in to view full article.