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Quotes & Info
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| INTT > SEC Filings for INTT > Form 8-K on 8-Dec-2008 | All Recent SEC Filings |
8-Dec-2008
Costs Associated with Exit or Disposal Activities
On November 19, 2008, inTEST Corporation (the "Company") approved a reduction in workforce in its Tester Interface product segment of 10 employees, representing approximately 36% of the total employees in this segment. The Company will incur approximately $76,000 in total costs related to this action for one-time termination benefits. These costs will be incurred in the fourth quarter of 2008. This action is being taken to reduce the operating expenses of this product segment in response to continued operating losses.
The Company communicated this action to its employees on December 4, 2008. The Company expects that the completed action in this product segment will reduce its annual operating expense structure by approximately $646,000.
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