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SCMR > SEC Filings for SCMR > Form 8-K on 29-Apr-2009All Recent SEC Filings

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Form 8-K for SYCAMORE NETWORKS INC


29-Apr-2009

Costs Associated with Exit or Disposal Activities, Financial Statements and


Item 2.05: Costs Associated with Exit or Disposal Activities.

On April 29, 2009, the Registrant announced, in response to current economic conditions and the resulting weakness in the global telecommunications market, that it will reduce its global workforce by approximately 30%. This action, expected to be completed over the next several quarters, will affect all functional organizations and multiple geographic locations. The Registrant expects that this reduction will result in aggregate restructuring charges in the range of $4.0 million to $5.0 million primarily associated with employee separation packages, which include severance pay, benefits continuation and outplacement services. The Registrant anticipates that this action, when completed, will result in annualized cost savings in the range of $17.0 million to $18.0 million.

A copy of the press release issued by the Registrant with respect to the foregoing is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.



Item 9.01: Financial Statements and Exhibits.

(d) Exhibits

Exhibit
Number  Description

99.1    Press Release of the Registrant, dated April 29, 2009.


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