-----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, Flii9lZqTrj52ZZhCgibcpfABW4WanXQoL6dplUnCPLBI6jhr0d8VqkViYlPlmeo 9fh8S7l0SjpMUkGZBXYbFA== 0000950134-05-008478.txt : 20050429 0000950134-05-008478.hdr.sgml : 20050429 20050429130541 ACCESSION NUMBER: 0000950134-05-008478 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050427 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20050429 DATE AS OF CHANGE: 20050429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOLECTRON CORP CENTRAL INDEX KEY: 0000835541 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 942447045 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11098 FILM NUMBER: 05784091 BUSINESS ADDRESS: STREET 1: 847 GIBRALTAR DR CITY: MILPITAS STATE: CA ZIP: 95035 BUSINESS PHONE: 4089578500 MAIL ADDRESS: STREET 1: 847 GIBRALTAR DR CITY: MILPITAS STATE: CA ZIP: 95035 8-K 1 f08418e8vk.htm FORM 8-K e8vk
 

 
 

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) April 27, 2005

SOLECTRON CORPORATION

(Exact name of registrant as specified in charter)
         
Delaware
(State or other jurisdiction
of incorporation) 		  1-11098
(Commission
File Number) 		  94-2447045
(IRS Employer
Identification No.)
     
847 Gibraltar Drive, Milpitas, California
(Address of principal executive offices) 		  95035
(Zip Code)

Registrant’s telephone number, including area code: (408) 957-8500

Not Applicable
(Former name or former address, if changed since last report.)

 
 

 

 

SECTION 2 — Financial Information

ITEM 2.05 Costs Associated with Exit or Disposal Activities

On April 27, 2005, the Audit Committee of Solectron’s Board of Directors approved a restructuring plan with associated charges estimated to range between $100-$115 million, of which approximately 90% represents cash expenditures. The expected completion date for this restructuring plan is the end of the third quarter of fiscal 2006. The restructuring plan is necessary to continue to refine our cost structure by adjusting our capacities and strengthening our position in low cost geographies. These restructuring actions will involve reducing the workforce by approximately 3,500 employees, the majority of which are in non-U.S. locations, and vacating approximately 850,000 square feet of facilities in Europe and North America. The estimated restructuring charges will consist of approximately $70-$80 million in severance costs, $7-$10 million in facility lease costs, $10-$12 million in facility and equipment impairment charges and $10-$12 million in transfer and other exit related costs.

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: April 29, 2004   Solectron Corporation
 		  
  /s/ Kiran Patel    
  Kiran Patel   
  Executive Vice President and Chief Financial Officer   
 

 

-----END PRIVACY-ENHANCED MESSAGE-----