|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the WYN 10-Q filed Nov 10, 2008. Restructuring
Costs
In addition to the restructuring plan discussed in
Note 14—Restructuring Costs, the Company’s
vacation ownership business is refocusing its sales and
marketing efforts on consumers with higher credit quality and,
consequently, will decrease the level of timeshare development
and enhance the cash flow from the business unit. Such
realignment will include the elimination of certain positions,
the termination of leases of certain sales offices and the
write-off of related assets from such offices. The
Company’s strategic realignment of its vacation exchange
and rentals business streamlines exchange operations primarily
across its international businesses by reducing management
layers to improve regional accountability. The Company estimates
restructuring costs, including the termination of approximately
1,000 employees, of approximately $25 to $30 million
during the fourth quarter of 2008 and approximately $5 to
$10 million during the first quarter of 2009. These amounts
are preliminary estimates and subject to change.
Table of Contents
|
| |||||||
