Quarterly report pursuant to Section 13 or 15(d)

Subsequent Event

v2.4.0.6
Subsequent Event
3 Months Ended
Jun. 30, 2012
Subsequent Event  
Subsequent Event

Note 15. Subsequent Event

 

On July 25, 2012, the Company committed to a global restructuring plan to respond to the continued economic slowdown.  The Company will incur a charge to earnings related to one-time termination benefits.   This action will affect approximately 420 employees representing 4% of the global workforce.   The charge for one-time termination benefits are estimated to be $8.0 million to $9.0 million of which approximately $7.0 million is expected to be accrued in the quarter ending September 30, 2012.