Disclaimer: I have no personal knowledge regarding these issues, and therefore cannot clarify the meaning of any comments from Dresser-Rand leadership. The following is from D-R's Form 10-Q, published on Friday, May 8, 2015 concerning the company's first quarter financial results.
Restructuring Charges - Employee Severance and Other Related Costs:
"During the three months ended March 31, 2015, the Company initiated a reduction in workforce which includes the elimination of approximately 400 personnel worldwide. As of March 31, 2015, the Company eliminated approximately 200 personnel, and the Company expects to eliminate the remaining 200 personnel by the end of 2015."
Restructuring Charges - Asset Impairments and Other Charges:
"As part of the restructuring program, the Company is exiting certain non-core businesses and/or disposing of certain facilities and assets. Intangible asset impairments related to the planned exit of certain businesses were $ 11.4M for the three months ended March 31, 2015. The impairment charge is primarily related to existing technology, customer relationships and trade names for the planned exit of a European manufacturing location. The fair value of these assets was based on market offers to purchase the assets. The impairment charge also includes a trade name that was part of a separate non-core business in Europe that we plan to exit .
The Company intends to sell the European manufacturing location; however, these assets have not been classified as assets held for sale as of March 31, 2015, as the necessary approvals to sell the assets have not yet been received. In the event we do not sell the facility, additional restructuring charges may be recorded to dispose of the assets."