Vintage wine estates restructures organization, initiates cost cuts and simplifies business model

Incline village, nev.--(business wire)--vintage wine estates, inc. (nasdaq: vwe and vweww) (“vwe” or the “company”), one of the top wine producers in the u.s., today announced that it is restructuring the business by seeking to monetize certain assets and exit certain non-core, lower margin product and service offerings. as a result, the company will be reducing its workforce by approximately 15% for expected annualized savings of $7.1 million. restructuring charges for the actions are expected.
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