-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NMzePYisVC6ZT9yXWDQB25rVOn+C9Mo4GBPeRfUbsSWznk0w/xx3xr8wQrH6n24D Fmm2kAwROaBd8JRrNc58nw== 0001193125-09-064502.txt : 20090326 0001193125-09-064502.hdr.sgml : 20090326 20090326172930 ACCESSION NUMBER: 0001193125-09-064502 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090323 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20090326 DATE AS OF CHANGE: 20090326 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EXTREME NETWORKS INC CENTRAL INDEX KEY: 0001078271 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 770430270 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-25711 FILM NUMBER: 09707458 BUSINESS ADDRESS: STREET 1: 3585 MONROE STREET CITY: SANTA CLARA STATE: CA ZIP: 95051 BUSINESS PHONE: 4085792800 MAIL ADDRESS: STREET 1: 3585 MONROE STREET CITY: SANTA CLARA STATE: CA ZIP: 95051 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (date of earliest event reported):

March 23, 2009

EXTREME NETWORKS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   000-25711   77-0430270

(State or other jurisdiction

of incorporation)

  

(Commission

File No.)

  

(I.R.S. Employer

Identification No.)

3585 Monroe Street

Santa Clara, California 95051

(Address of principal executive offices)

Registrant’s telephone number, including area code:

(408) 579-2800

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 2.05 Costs Associated with Exit or Disposal Activities.

On March 23, 2009, Extreme Networks, Inc. (the “Company”) approved a plan to reduce the number of employee positions at the Company by approximately 5%. The Company expects to substantially complete this reduction-in-force by the end of fourth quarter of fiscal year 2009 which ends June 28, 2009. The Company is taking these actions in order to reduce operating costs and realign its organization in the current competitive operating environment. The Company anticipates incurring restructuring charges of approximately $1.8 million related to this action, primarily for non-recurring employee-related termination benefits, including severance payments and continuation of medical insurance benefits.

In addition, earlier in the quarter, the Company reduced the number of employee positions at the Company by approximately 1% and exited a facility as part of the Company’s strategic plan. The Company anticipates incurring restructuring charges of approximately $0.5 million related to this action, primarily for non-recurring employee-related termination benefits, including severance payments and continuation of medical insurance benefits, excess lease facility and asset impairment.

As a result of these plans, the Company expects to reduce the number of employee positions by approximately 6% and to record total restructuring charges of $2.3 million in its third quarter of fiscal year 2009 which ends March 29, 2009. Substantially all of these charges will result in cash expenditures.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 26, 2009

 

EXTREME NETWORKS, INC.
By:   /s/ Karen M. Rogge
  Karen M. Rogge
  Senior Vice President and Chief Financial Officer

 

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