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BMC > SEC Filings for BMC > Form 8-K on 8-Apr-2013All Recent SEC Filings

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Costs Associated with Exit or Disposal Activities, Financial Statements and Exhi

Item 2.05. Costs Associated with Exit or Disposal Activities

BMC Software, Inc. (the "Company") is reducing its workforce as a result of a company-wide operational review that was announced and commenced in January 2013. The workforce reductions are from business unit and corporate functions and across geographies in which the Company operates. Company management committed to the workforce reduction on March 28, 2013 and notified the majority of impacted employees on April 2, 2013.

This workforce reduction is expected to result in pre-tax charges of approximately $33 to $38 million for severance and related termination costs, which will be future cash expenditures. The Company anticipates that most of these charges will be recorded in its fourth fiscal 2013 quarter and first fiscal 2014 quarter.

This Current Report on Form 8-K contains forward-looking statements, including, but not limited to, statements regarding the expected charges related to restructuring. These forward-looking statements are only estimates based on current information and expectations and are subject to certain risks and uncertainties, including, but not limited to, the Company's ability to implement the workforce reductions in various geographies and possible changes in the size and components of the expected costs and charges. Furthermore, additional non-severance charges may also result from the Company's operational review. More information about potential factors that could affect the Company's business and financial results is included in the "Risk Factors" set forth in the Company's Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the U.S. Securities and Exchange Commission. These filings are available on the Company's website at Actual results could differ materially from those set forth in the forward-looking statements as a result of such risk factors, as well as other risks and uncertainties. The Company assumes no obligation to update these forward-looking statements.

Item 9.01. Financial Statements and Exhibits

The Company hereby files the following exhibits:

10.38 - Executive Employment Agreement, as amended, between BMC Software, Inc. and Kiarash Behnia
10.39 - Executive Employment Agreement, as amended, between BMC Software, Inc. and Kenneth W. Berryman
10.40 - Executive Employment Agreement between BMC Software, Inc. and Paul Avenant

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