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Subsequent Events
6 Months Ended
Jun. 30, 2012
Subsequent Events  
Subsequent Events

14. Subsequent Events

Forgivable Loans

        In order to attract and retain highly skilled professionals, the Company may issue forgivable loans to employees and non-employee experts. The majority of these loans are unsecured with terms of generally three to five years. The principal amount and accrued interest is forgiven by the Company over the term of the loans, so long as the employee or non-employee expert continues employment or affiliation with the Company and complies with certain contractual requirements. The expense associated with the forgiveness of the principal amount of the loans is recorded as compensation expense over the service period, which is consistent with the term of the loans. At June 30, 2012, the Company committed to issue approximately $7.1 million in forgivable loans to employees and non-employee experts for future service. The Company expects that these loans will be issued, and the corresponding payments will be made, in the third quarter of fiscal 2012.

Restructuring Actions

        On July 22, 2012, the Company's management committed to a plan to eliminate and restructure selected practice areas, better align staffing levels with its revenue, and reduce selling, general and administrative costs. In connection with this plan, the Company is eliminating its Chemicals practice and is closing its Middle East operations. These restructuring actions, along with the repositioning of other select underperforming practice areas in connection with this restructuring plan, will result in the reduction of approximately 55 consulting positions. Commensurate with these consulting staff reductions, the Company is also taking significant actions to lower its selling, general and administrative costs by reducing the Company's administrative staff, eliminating excess office space capacity, better rationalizing remaining office space, and lowering administrative spending, particularly related to outside contractors and professional fees. These restructuring actions are designed to intensify the focus of the Company's portfolio, increase the cohesiveness of its services and improve its margins and profitability. The Company has begun these actions and expects that a majority of them will be completed during the third and fourth quarters of fiscal 2012. The Company expects to record a restructuring charge in the approximate range of $3.5 million to $4.5 million in the third quarter of fiscal 2012 related to termination benefits, facility-related charges, asset write-downs and other potential charges.