Isophoric News · Tuesday, November 3, 2026
Three companies tell the SEC of cuts: Kimberly-Clark's $3.1 billion Kenvue integration plan, FTI's 4% staff cut, Vistagen's 31% reduction
Three companies filed Item 2.05 reports, the section for exit and restructuring costs, with the Securities and Exchange Commission between Oct. 30 and Nov. 2. Kimberly-Clark said it expects about $3.1 billion in pre-tax charges through 2029 to integrate Kenvue, which it finished acquiring on Nov. 2; FTI Consulting said it is cutting about 4 percent of its more than 8,200 employees; and Vistagen Therapeutics said it cut its workforce by about 31 percent. Kimberly-Clark's filing says its board approved the Kenvue Integration Program on Oct. 30, with actions starting Nov. 2 and due to finish by Dec. 31, 2029. Of the $3.1 billion, $2.5 billion is cash, including about $0.8 billion for supply chain network optimization, about $0.4 billion for workforce optimization and about $0.4 billion for advisers, and the company expects about $1.4 billion in related capital spending; the filing gives no number of jobs or sites. FTI Consulting, of Washington, said all affected employees were notified by Oct. 29, recorded a $46.0 million charge in the third quarter, mostly salary and benefits, and expects about $7 million more in the fourth. Vistagen, of South San Francisco, said it made the cut on Oct. 26 to preserve capital for its Phase 3 social anxiety drug candidate, fasedienol, and estimated severance costs of about $1.0 million against about $3.2 million in annual savings.
