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ANSS > SEC Filings for ANSS > Form 8-K on 7-May-2009All Recent SEC Filings

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Form 8-K for ANSYS INC


7-May-2009

Results of Operations and Financial Condition, Costs Associated with Exit or Disposal A


Item 2.02. Results of Operations and Financial Condition.

On May 7, 2009 the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.



Item 2.05. Costs Associated with Exit or Disposal Activities.

On May 7, 2009, as part of the Company's ongoing effort to manage expenses and its overall cost structure, the Company committed to a reduction of approximately 6% of the Company's global workforce. The Company will begin notifying affected individuals on May 7, 2009. The terminations are expected to be substantially completed by the end of the second quarter of 2009, and to result in estimated pre-tax charges in the range of approximately $4.5-5.7 million, consisting primarily of severance costs, that will be expensed in the second quarter of 2009, of which approximately $2 million is expected to be paid in the second quarter of 2009 and the balance of which is expected to be paid in the third and fourth quarters of 2009.

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