Hyster-Yale announces restructuring plan, reduces workforce by 575 employees

Hyster-Yale (HY) announced a restructuring plan. Current economic and industry dynamics provide a catalyst to further optimize the business’ cost structures, reducing its break-even point to better align with current low industry volumes, particularly in the industrial segment. This action aims to position the company for enhanced profitability when industry volumes recover, likely in mid-2026. This restructuring plan will reduce the company’s global workforce by approximately 575 employees, spread across global manufacturing and staff functions, to help to address the current mismatch in recent shipping and booking rates. This action is expected to result in a one-time pre-tax charge of approximately $21M in Q4 2025 and generate $40M-$45M in annualized cost savings beginning in Q1 2026.