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  "documentTitle": "GCP Applied Technologies (GCP)",
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  "presentationDate": "2020-04-30 00:00:00",
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      "kind": "callout",
      "text": "Since 2017, GCP has been perpetually trying to \"reduce its global cost structure\" and \"streamline operations.\"",
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      "text": "Excerpts From GCP 2019 10-K Regarding Restructuring Initiatives Since 2017",
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      "text": "2017 Restructuring and Repositioning Plan (the \"2017 Plan\") ... 2018 Restructuring and Repositioning Plan (the \"2018 Plan\") ... 2019 Restructuring and Repositioning Plan (the \"2019 Plan\") ... 2019 Phase 2 Restructuring and Repositioning Plan (the \"2019 Phase 2 Plan\")",
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      "text": "Each of the four restructuring initiatives approved by the Board over the past three years has seemingly had significant overlap in scope, suggesting prior restructurings were either poorly designed or poorly executed.",
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      "text": "Source: GCP's public filings.",
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      "text": "All Four Plans Appear to Be Similar in Scope",
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