Restructuring Charges

3 Months Ended

Apr. 02, 2016

Restructuring Charges

14. Restructuring Charges

During the first quarter of fiscal 2015, Intevac substantially completed implementation of the 2015 cost reduction plan (the “Plan”), which was intended to reduce expenses and reduce its workforce by 3 percent. The cost of implementing the Plan was reported under cost of net revenues and operating expenses in the condensed consolidated statements of operations. Substantially all cash outlays in connection with the Plan occurred in the first quarter of fiscal 2015. Implementation of the Plan reduced salary, wages and other employee-related expenses by approximately $1.4 million on an annual basis.

The changes in restructuring reserves associated with the Plan for the three months ended April 4, 2015 are as follows:

	April 4, 2015
	Severance and other employee- related costs
	(In thousands)
Beginning balance	$	—
Provision for restructuring reserves		148
Cash payments made		(148	)
Ending balance	$	—