A $1.2B restructuring charge means they get to take $1.2B that would have hit Adjusted EPS, the main # driving executive bonuses & stock rewards, and Wall Street headline #, and put it in non-recurring items thereby making their headline # and bonuses pop amidst slower revenue than planned.

Many don’t realize this. This was par for the course when I first as in mgmt at a mega cap (S&PGlobal). We saw there was risk of not hitting the 2x multiplier on eps for beating it, and we’d bludgeon teams to get the # where it needed to be.

This is why I really urge people to start their own thing if they can. It lets you take more control over your life and livelihood.