Restructuring Charges

9 Months Ended

Sep. 29, 2018

Restructuring Charges

17.    Restructuring Charges

During the first quarter of fiscal 2018, Intevac substantially completed implementation of the 2018 cost reduction plan (the “Plan”), which was intended to reduce expenses and reduce its workforce by 6 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 2018. Implementation of the Plan is expected to reduce salary, wages and other employee-related expenses by approximately $1.8 million on an annual basis.

The changes in restructuring reserves associated with the Plan for the nine months ended September 29, 2018 are as follows.

	Nine Months Ended
	September 29,
	2018
	Severance and other employee- related costs (In thousands)
Beginning balance	$	—
Provision for restructuring reserves		95
Cash payments made		(95	)
Ending balance	$	—