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Quotes & Info
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| VOL > SEC Filings for VOL > Form 8-K on 13-Mar-2009 | All Recent SEC Filings |
13-Mar-2009
Results of Operations and Financial Condition, Costs Associated w
The information in this Form 8-K, including the Exhibit attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.
On March 13, 2009, the Company issued a press release announcing its results of operations for the first quarter ended February 1, 2009. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
The Company anticipates taking a restructuring charge in its Staffing Services segment of approximately $4.4 million during its second fiscal quarter as a result of the current macroeconomic conditions. This anticipated charge includes severance and associated labor costs, leased facilities and asset write-offs.
The Company believes that upon the completion of these restructuring activities, there will be a potential savings in cost of sales achieved through reduced employee expenses, reduced operating costs and improved operational efficiencies, as well as reduced selling, general and administrative operating expenses.
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