Symantec 2001 Annual Report Download - page 51

During the March 2001 quarter, we reorganized various operating
functions, thereby reducing our workforce by 50 employees, and
recorded approximately $1.1 million for the costs of severance,
related benefits and outplacement services. In addition, we provided
approximately $1.2 million for costs of severance and related benefits
for six members of our senior management due to a realignment of
certain responsibilities. As of March 31, 2001, we had an accrual of
$1.7 million related to employee severance and outplacement services
that will be paid during the June 2001 quarter.
During the December 2000 quarter, we reduced a portion of our
operations in Toronto, thereby reducing our workforce by 10 employees,
and recorded approximately $0.4 million for the costs of severance,
related benefits and abandonment of certain equipment. In addition,
approximately $0.9 million was provided for costs of severance and
related benefits for four members of our senior management due to a
realignment of certain responsibilities. These severance and related
benefits were paid by the end of the March 2001 quarter.
During the March 2000 quarter, we reduced our operations in our
Melville and Toronto sites, thereby reducing our workforce by 96
employees.As a result, we vacated the facility in Melville and reduced
the space occupied in Toronto. We recorded approximately $3.4
million for employee severance, outplacement and abandonment of
certain facilities and equipment during the March 2000 quarter. In
addition, we provided approximately $0.7 million for costs of sever-
ance, related benefits and outplacement services for two members of
senior management due to the realignment of our business units and
their resulting departures during the March 2000 quarter.
During the December 1999 quarter, we reduced our Internet Tools
business unit’s workforce and reduced our sales workforce. There were
48 employees in the Internet Tools business unit affected, resulting in
a charge of approximately $1.8 million for severance, related benefits
and outplacement services. The sales workforce reduction affected 10
employees, resulting in a charge of approximately $0.4 million for
severance, related benefits and outplacement services.
During the September 1999 quarter, we provided approximately $0.7
million for costs of severance, related benefits and outplacement serv-
ices for two members of senior management due to the realignment
of our business units and their resulting departures. We also recorded
approximately $2.7 million for certain costs related to an agreement
reached with our former CEO in the June 1999 quarter. These costs
were comprised of severance and acceleration of unvested options.
During the September 1998 quarter, we made a decision to restructure
our operations and outsource domestic manufacturing operations.
As a result, we originally recorded a $3.8 million charge for personnel
severance to reduce the workforce by approximately 5% in both
domestic and international operations and a $1.3 million charge for
the planned abandonment of a manufacturing facility lease. These
estimates were subsequently revised in the September 1999 quarter,
resulting in a reduction in the personnel severance and outplacement
accruals by approximately $0.7 million.
Details of the fiscal 2001 restructuring and other expenses were as follows:
Cash/ Original Amount Amount Balance
(In thousands) Non-cash Charge Paid/Used Adjusted at 3/31/01
Employee severance and outplacement Cash $ 3,524 $ (1,785) $ —$ 1,739
Excess equipment Non-cash 140 (140) ——
Total restructuring and other expenses $ 3,664 $ (1,925) $ —$ 1,739
Details of the fiscal 2000 restructuring charges were as follows:
Cash/ Original Amount Amount Balance
(In thousands) Non-cash Charge Paid/Used Adjusted at 3/31/01
Employee severance and outplacement Cash/non-cash $ 8,733 $ (8,733) $ —$ —
Excess facilities and equipment Cash/non-cash 953 (473) —480
Total restructuring and other expenses $ 9,686 $ (9,006) $ —$ 480
Details of the fiscal 1999 restructuring charges were as follows:
Cash/ Original Amount Amount Balance
(In thousands) Non-cash Charge Paid/Used Adjusted at 3/31/01
Employee severance and out-placement Cash $ 3,800 $ (3,132) $ (668) $ —
Excess facilities and equipment Cash/non-cash 1,305 (1,195) —110
Total restructuring and other expenses $ 5,105 $ (4,327) $ (668) $ 110
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