Note 6 - Restructuring

3 Months Ended

Mar. 30, 2024

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

Note 6 - Restructuring

Under the Q3 2023 Plan, which is described in the 2023 10-K, we incurred restructuring costs of approximately $2.3 million during the first quarter of fiscal 2024. Under this plan, approximately $4.3 million of total costs have been incurred through March 30, 2024. The Q3 2023 plan is expected to be largely complete by the end of fiscal year 2024.

Other restructuring activity in the periods presented consisted of expense adjustments on previous plans. These costs, and adjustments on previous restructuring plans, are recorded to Restructuring on our Consolidated Statements of Operations. The restructuring accrual balance is presented in Accrued liabilities and in Other long-term liabilities on our Consolidated Balance Sheets. The following table displays the activity related to our restructuring plans:

(In thousands)	Severance & Related (1)			Lease Termination & Fixed Assets			Other (2)			Total
Accrued Restructuring at December 30, 2023	$	1,490		$	4,508		$	620		$	6,618
Restructuring		2,341			(17	)		(620	)		1,704
Costs paid or otherwise settled		(2,979	)		(354	)		—			(3,333	)
Accrued Restructuring at March 30, 2024	$	852		$	4,137		$	—		$	4,989
Accrued Restructuring at December 31, 2022	$	400		$	5,892		$	640		$	6,932
Restructuring		(1	)		31			—			30
Costs paid or otherwise settled		(107	)		(363	)		(2	)		(472	)
Accrued Restructuring at April 1, 2023	$	292		$	5,560		$	638		$	6,490

(1)	Includes employee relocation and outplacement costs
(2)	Includes termination fees on the cancellation of certain contracts