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| MTSC > SEC Filings for MTSC > Form 8-K on 11-Feb-2009 | All Recent SEC Filings |
11-Feb-2009
Costs Associated with Exit or Disposal Activities
On February 10, 2009, MTS Systems Corporation (the "Company") announced a workforce reduction as part of its efforts to align the business with current market and economic conditions while maintaining the ability to successfully execute its strategy.
The Company-wide workforce reduction will affect approximately 150 positions, about six percent of the Company's employee base, through a combination of attrition, cancellation of open positions, and layoffs of current staff. As a result, the Company expects to take a pretax charge of $2.5 million to $3.5 million related to severance and facilities in the second quarter of fiscal 2009, ending March 28, 2009. A majority of this charge will result in future cash expenditures.
A copy of the press release announcing this action is furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01. Exhibits.
(d) Exhibits.
Exhibit No. Description of Exhibit
99.1 Press Release dated February 10, 2009.
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