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| BMC > SEC Filings for BMC > Form 8-K on 5-Dec-2008 | All Recent SEC Filings |
5-Dec-2008
Costs Associated with Exit or Disposal Activities
In light of current economic conditions, BMC Software, Inc. (the "Company") is reducing the Company's workforce by approximately 350 employees. The workforce reductions are from each business unit and corporate department and across geographies in which the Company operates. The Company committed to the reduction on November 20, 2008 when management finalized its decision to proceed. The Company notified employees of this upcoming restructuring action on December 5, 2008, and expects to be substantially complete with informing the affected employees in December 2008.
The restructuring action is expected to result in pre-tax charges of approximately $18 to $23 million for severance and related termination costs, which will be future cash expenditures. The Company anticipates that most of these charges will be recorded in its third and fourth fiscal 2009 quarters.
Management may conclude that additional future actions may be required if global economic conditions deteriorate further, but the timing and extent of such actions or related charges are not currently determinable.
This Current Report on Form 8-K contains forward-looking statements, including, but not limited to, statements regarding the expected charges related to restructuring. These forward-looking statements are only estimates based on current information and expectations and are subject to certain risks and uncertainties, including, but not limited to, the Company's ability to implement the workforce reductions in various geographies; possible changes in the size and components of the expected costs and charges; and general economic conditions. More information about potential factors that could affect the Company's business and financial results is included in the "Risk Factors" set forth in the Company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the U.S. Securities and Exchange Commission. These filings are available on the Company's website at www.bmc.com/investors. Actual results could differ materially from those set forth in the forward-looking statements as a result of such risk factors, as well as other risks and uncertainties. BMC Software assumes no obligation to update these forward-looking statements.
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