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Restructurings

9 Months Ended

Jul. 02, 2021

Restructuring and Related Activities [Abstract]

Restructurings

RESTRUCTURINGS

We have periodically implemented restructuring actions in connection with broader plans to reduce staffing, reduce our internal manufacturing footprint and generally reduce operating costs. The restructuring expenses are primarily comprised of direct and incremental costs related to headcount reductions including severance and outplacement fees for the terminated employees, as well as facility closure costs.

There were no restructuring charges incurred during the three and nine months ended July 2, 2021. The following is a summary of the restructuring charges incurred during the three and nine months ended July 3, 2020 (in thousands):

									Three Months Ended												Nine Months Ended
									July 3, 2020												July 3, 2020
Employee related expenses and adjustments									$	(761)											$	787
Facility related expenses									207												707
Total restructuring charges									$	(554)											$	1,494

2019 Plan

During the fiscal quarter ended June 28, 2019, we committed to a plan designed to strategically realign, streamline and improve certain of our business and operations, including reducing our workforce by approximately 250 employees, exiting six development facilities in France, Japan, the Netherlands, Florida, Massachusetts and Rhode Island, reducing certain development activities for one of our product lines and no longer investing in the design and development of optical modules and subsystems for Data Center applications (the “2019 Plan”). We incurred restructuring charges in the three and nine months ended July 3, 2020 under the 2019 Plan, as shown above. This action was completed during fiscal 2020 and we do not expect to incur further costs. The remaining charges will be paid during fiscal 2021.

Details of the 2019 Plan accrual activity for the nine months ended July 2, 2021 are as follows (in thousands):

			Employee-Related Expense (1)			Facility-Related Expense (2)			Total
Balance as of October 2, 2020			$	235		$	26		$	261
Charges and adjustments			—			—			—
Charges paid/settled/other			2			(26)			(24)
Balance as of July 2, 2021			$	237		$	—		$	237

(1) Primarily includes severance charges associated with the reduction of our workforce in certain facilities.

(2) Primarily includes activities associated with the closure of certain facilities, including any associated asset impairments and contract termination costs.

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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