Symantec 2000 Annual Report Download - page 50

The exit plans associated with each of the reductions in workforce
and facility closures above specifically identified all the signifi-
cant actions, including:
•the names of individuals who would not continue
employment with us;
•the termination dates and severance packages for each
terminating employee;
•the planned date we would vacate the facilities which
were under existing operating leases; and
•the specific excess equipment, furniture, fixtures and
leasehold improvements to be disposed of.
Employee severance and outplacement was primarily comprised
of severance packages for employees who were to be terminated
as a result of the restructuring. As part of the restructuring plan,
we specifically identified those individuals who would not continue
employment with us. The severance periods ranged from one to
six months. The total cost of the severance packages was accrued
and included in the restructuring charge after the identified
employees had their severance packages communicated to them.
Additionally, we accrued estimated costs associated with out-
placement services to be provided to terminating employees, as
these costs have no future economic benefit to us. The remain-
ing accrual at March 31, 2000 was for outstanding severance and
outplacement costs.
Excess facilities and equipment included remaining lease pay-
ments associated with building leases subsequent to their
abandonment dates. The cash outlays for these leases are to be
made over the remaining term of each lease. In addition, we
reserved for the write-off of site-specific equipment, furniture, fix-
tures and leasehold improvements, which would no longer be
utilized. The accrual at March 31, 2000 relates to the remaining
lease payments, which will be paid over the remaining lease term
subsequent to the abandonment of each facility.
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Details of the fiscal 1999 restructuring charges are as follows:
Cash/ Restructuring Amount Amount Balance
(In thousands) Non-cash Charge Paid Adjusted at 3/31/00
Employee severance and outplacement Cash $ 3,800 $ (3,800) $ — $ —
Excess facilities and equipment Cash & Non-cash 1,305 (392) (668) 245
Total restructuring and other expenses $ 5,105 $ (4,192) $ (668) $ 245
Details of the fiscal 2000 restructuring charges are as follows:
Cash/ Restructuring Amount Amount Balance
(In thousands) Non-cash Charge Paid Adjusted at 3/31/00
Employee severance and outplacement Cash $ 8,733 $ (7,113) $ — $ 1,620
Excess facilities and equipment Cash & Non-cash 953 (346) — 607
Total restructuring and other expenses $ 9,686 $ (7,459) $ — $ 2,227