Workforce Reductions at QLogic
To incur between $5 million and $6 million of pre-tax cash charges
This is a Press Release edited by StorageNewsletter.com on September 16, 2015 at 3:14 pmIn a SEC filing, Jean Hu, acting CEO, SVP and CFO, QLogic Corp., wrote:
“On September 2, 2015, QLogic approved a restructuring plan designed to better align the company’s future operating expenses with its current revenue expectations. The restructuring plan consists of workforce reductions which the company anticipates will be substantially completed during the company’s fiscal 2016.
“In connection with the restructuring plan, the company expects to incur between $5 million and $6 million of pre-tax cash charges associated with the restructuring plan, consisting of employee termination benefits. The company expects that the charges associated with the restructuring plan will be recorded in the company’s fiscal 2016.”
Read also:
QLogic: Fiscal 1Q16 Financial Results
-15% for revenue Q/Q, -5% Y/Y
2015.08.03 | Press Release | [with our comments]
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