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Quotes & Info
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| YHOO > SEC Filings for YHOO > Form 8-K/A on 19-Jun-2009 | All Recent SEC Filings |
19-Jun-2009
Costs Associated with Exit or Disposal Activities
On April 21, 2009, the Company filed the Original 8-K disclosing its plans to reduce its number of current employees worldwide by approximately 5 percent. At the time of filing the Original 8-K, the Company was unable to estimate the total charges expected to be incurred in connection with the workforce reduction.
The Company estimates that it will incur total pre-tax cash charges of between $30 million and $34 million in severance pay expenses and related cash expenditures in connection with this workforce reduction. The pre-tax cash charges will be offset by a credit related to stock-based compensation expense reversals for forfeited stock-based awards of between $7 million and $8 million, resulting in restructuring charges, net of between $22 million and $27 million, all of which are expected to be recorded in the second quarter of 2009.
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