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FDML > SEC Filings for FDML > Form 8-K on 19-Dec-2008All Recent SEC Filings

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Form 8-K for FEDERAL MOGUL CORP


19-Dec-2008

Other Events, Financial Statements and Exhibits


Item 8.01. Other Events

On December 19, 2008, Federal-Mogul Corporation (the "Company") issued a press release announcing that it has expanded its existing restructuring plan announced September 17, 2008, in response to the continued challenging conditions in the global automotive market. These actions are expected to occur as a result of several initiatives designed to further consolidate, downsize or close additional locations. The Company anticipates that these additional restructuring initiatives, which are expected to begin during the first quarter of 2009 and are expected to be substantially completed by the end of 2009, will result in an estimated charge of approximately $80 million. This estimated charge relates primarily to severance and benefits costs, and is in addition to the estimated charge included in the original plan announced in September 2008. The restructuring actions are expected to reduce the company's global workforce by approximately 4,600 additional positions or about ten percent.

A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

99.1 Press release issued by Federal-Mogul Corporation dated December 19, 2008.


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