Voluntary Employee Separation Program

12 Months Ended

Oct. 28, 2018

Voluntary Employee Separation Program

Voluntary Employee Separation Program

Note 23. Voluntary Employee Separation Program

During the fourth quarter of 2016, the Company announced a voluntary employee-separation program as part of its effort to reduce operating costs. The program provided for cash payments based on previous years of service. The expense was recorded in the period the employees accepted the separation offer. The program’s total pretax expenses were $8.4 million, of which $.2 million was recorded in the fourth quarter of 2016 and $8.2 million in 2017. The payment for the program was substantially made in the first quarter of 2017. The expense was recorded in administrative and operating expenses.