This excerpt taken from the MGRM 10-K filed Mar 16, 2005.
Other Restructuring and Severance Costs
Following the Companys merger with ACLARA, the Company entered into a severance agreement with a former executive and recorded a severance charge of $0.2 million in the statement of operations for the year ended December 31, 2004 of which none was paid as of December 31, 2004.
In November 2002, the Company implemented a business restructuring plan to reallocate certain personnel and resources to revenue maximizing activities and reduce cash consumption. The plan included a reduction in force of approximately 17% or 35 employees: 8 employees in laboratory operations; 6 employees in research and development; 8 employees in sales and marketing; and 13 employees in administration. In the fourth quarter of 2002, the Company recorded a charge for salaries, severance and other personnel related costs to the respective departments totaling $0.3 million. All amounts related to this restructuring were paid as of December 31, 2002.
NOTES TO FINANCIAL STATEMENTS(Continued)
December 31, 2004