-----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, NLXBEpRI2uv9/I3pi/ZJX0huN7lUJe1SN9zHv5M8xRvSHXONy3auPUi01G5KQx9l LJ8Wybcj/81v0TnDpy+Jxg== 0001193125-09-049831.txt : 20090310 0001193125-09-049831.hdr.sgml : 20090310 20090310165328 ACCESSION NUMBER: 0001193125-09-049831 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090309 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20090310 DATE AS OF CHANGE: 20090310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERCURY GENERAL CORP CENTRAL INDEX KEY: 0000064996 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 952211612 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12257 FILM NUMBER: 09670107 BUSINESS ADDRESS: STREET 1: 4484 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90010 BUSINESS PHONE: 2139371060 MAIL ADDRESS: STREET 1: 4484 WILSHIRE BLVD CITY: LOS ANGELES STATE: CA ZIP: 90010 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 9, 2009

MERCURY GENERAL CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

California   001-12257   95-221-1612
(State or Other Jurisdiction of
Incorporation)		   (Commission
File Number)		   (I.R.S. Employer
Identification No.)

4484 Wilshire Boulevard

Los Angeles, California 90010

(Address of Principal Executive Offices)

 

 

(323) 937-1060

(Registrant’s telephone number, including area code)

 

 

Not applicable

(Former name or former address, if changed since last report)

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:

 

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

 

¨ Soliciting material pursuant to Rule 425 under the Exchange Act (17 CFR 240.14.a-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 9, 2009, the Company took action to eliminate approximately 360 employee positions or 7% of the Company’s workforce in an ongoing effort to improve its cost structure. The Company expects to record a charge, in the first quarter of 2009, of approximately $8 million for severance and other employee termination costs in connection with the reduction in workforce, all of which will result in future cash expenditures. The total annualized pre-tax cost savings that are expected to result from the employee reductions is estimated to be approximately $22 million.

 

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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 10, 2009     MERCURY GENERAL CORPORATION
    By:   /s/ THEODORE STALICK
    Name: Theodore Stalick
    Its: Chief Financial Officer

 

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