Restructuring Charges

3 Months Ended

Mar. 30, 2019

Restructuring Charges

17. Restructuring Charges

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

The changes in restructuring reserves associated with the Reduction Plan for the three months ended March 31, 2018 are as follows:

	Three Months Ended
	March 31, 2018
	Severance and other employee- related costs (In thousands)
Beginning balance	$	—
Provision for restructuring reserves		95
Cash payments made		(95	)
Ending balance	$	—