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Today's plan encompasses, accelerates, and expands on those initiatives. These restructuring actions will further expedite our transformation to a more efficient, agile, and scalable organization and are designed to drive sustained margin expansion and increased cash generation.
As part of the optimization plan, we have made the difficult decision to exit selected businesses and markets and permanently reduce our workforce.
While these are important actions to take, I recognize the impact they have on our people, and I am grateful for the important contributions made by these talented associates during their time at Nielsen.
Approximately half of these charges were incurred in the second quarter and are mostly employee severance costs.
The optimization plan includes a global reduction in force of approximately 3, employees. Cash payments for the severance costs will continue into late The guidance provided on April 30, already incorporated the impact of the optimization plan, with the exception of the market and business exits announced today.
These exits are the primary driver of the higher guidance range for restructuring versus previous expectations. The impact of these exits is expected to be no more than basis points to revenue growth, with an immaterial impact on adjusted EBITDA.
Nielsen expects overall second quarter financial results to be in line with commentary provided on the first quarter earnings call. The company plans to provide a detailed update on second quarter results and the outlook on the second quarter earnings call on August 5, This news release includes information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of These statements include those set forth above relating to our optimization plan and expected restructuring charges, the expected impact of the plan on annual run rate savings and the expected second quarter financial results, as well as other statements that may be identified by words such as "will," "intend," "expect," "anticipate," "should," "could" and similar expressions.
These statements are subject to risks and uncertainties, and actual results and events could differ materially from what presently is expected.
Please consult these documents for a more complete understanding of these risks and uncertainties. This list of factors is not intended to be exhaustive.
Such forward-looking statements only speak as of the date of this press release, and we assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events, or other factors, except as required by law.
Nielsen Holdings plc NYSE: NLSN is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide.