XML 84 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Restructuring and Severance
9 Months Ended
Sep. 30, 2013
Restructuring and Severance

13. Restructuring and Severance

During September 2013, there was a change of the Company’s chief executive officer and, as part of management’s efforts to simplify business operations, certain non-core functions were eliminated, which resulted in restructuring and severance costs of $1.3 million in both the third quarter and first nine months of 2013, primarily related to severance paid or accrued for our former chief executive officer and other employees. The amount accrued for restructuring and severance during September 2013 was $1.3 million and is outstanding as of September 30, 2013.

In June 2012 the Company announced a series of cost reduction measures designed to align its business operations with the current market and macroeconomic conditions. Cost reduction measures included acceleration of the elimination of duplicate expenses at newly acquired companies, reductions in other general and administrative expenses, the consolidation of facilities, a reduction in the Company’s global workforce, and temporary reductions in executive and management salaries and Board fees. The Company incurred restructuring charges of $0.3 million during the nine months ended September 30 2012. All restructuring actions related to the 2012 Restructuring Plan were completed in the fourth quarter of 2012.