RESTRUCTURING

In 2016, the Company implemented a restructuring program to streamline its international operations and functions as well as to consolidate its organization structure to achieve our cost-reduction, productivity and efficiency initiatives.

During the third quarter of fiscal 2017, the Company implemented a restructuring program to reallocate resources with respect to the Electronics Assembly/Hybrid business line. As part of this plan, $2.8 million of restructuring related costs, consisting of $2.3 million of severance and $0.5 million of other exit costs have been reflected in the Company’s consolidated condensed financial statements as of and for the fiscal quarter ended July 1, 2017.

The accrued cost as at July 1, 2017 is expected to be paid in fiscal 2017 and fiscal 2018.

The following table is a summary of activity related to the Company’s restructuring and other charges for the three and nine months ended July 1, 2017 and July 2, 2016:



	Three months ended									Nine months ended
	July 1, 2017									July 1, 2017
(in thousands)	Beginning of period ⁽¹⁾		Expenses ⁽²⁾		Payments			End of period ⁽¹⁾		Beginning of period ⁽¹⁾		Expenses ⁽²⁾		Payments			End of period ⁽¹⁾
Severance and benefits	$	—	$	2,307	$	—		$	2,307	$	37	$	2,307	$	(37	)	$	2,307
Other exit costs	2,058		37		(199		)	1,896		6,525		37		(4,666		)	1,896
	$	2,058	$	2,344	$	(199	)	$	4,203	$	6,562	$	2,344	$	(4,703	)	$	4,203



	Three months ended									Nine months ended
	July 2, 2016									July 2, 2016
(in thousands)	Beginning of period ⁽¹⁾		Expenses ⁽²⁾		Payments			End of period ⁽¹⁾		Beginning of period ⁽¹⁾		Expenses ⁽²⁾		Payments			End of period ⁽¹⁾
Severance and benefits	$	166	$	—	$	(88	)	$	78	$	1,538	$	661	$	(2,121	)	$	78


(1)	Included within accrued expenses and other current liabilities on the Consolidated Condensed Balance Sheets.


(2)	Provision for severance and benefits and other exit costs are included within selling, general and administrative expenses on the Consolidated Condensed Statements of Operations.