|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the WYN 10-Q filed May 7, 2009. Total
Company
These strategic realignments resulted in the termination of
approximately 320 more employees and incremental restructuring
costs of $43 million during the first quarter of 2009, of
which $21 million was paid in cash and $15 million was
a non-cash expense. The remaining liability of $47 million
will be paid in cash; $18 million of personnel-related by
May 2010 and $29 million of primarily facility-related by
September 2017. We anticipate additional restructuring costs
during the second quarter of 2009 of approximately
$1 million to $4 million in cash payments for
severance and related benefits. These amounts are preliminary
estimates and subject to change. We began to realize the
benefits of these strategic realignment initiatives during the
fourth quarter of 2008 and anticipate annual net savings from
such initiatives of approximately $160 million to
$180 million beginning in 2009.
This excerpt taken from the WYN 10-K filed Feb 27, 2009. Total
Company
These strategic realignments, including the termination of
approximately 4,500 employees, resulted in total
restructuring costs of $79 million during 2008, of which
$16 million was paid in cash and $23 million was a
non-cash expense. The remaining balance of $40 million will
be paid in cash; $27 million of personnel-related by May
2010 and $13 million of primarily facility-related by
November 2013. We anticipate additional restructuring costs
during the first quarter of 2009 of (i) approximately $20
to $30 million in cash payments for severance and related
benefits and facility-related costs and (ii) approximately
$10 to $15 million in non-cash charges primarily related to
Table of Contents
lease terminations over the next nine years. These amounts are
preliminary estimates and subject to change. We began to realize
the benefits of these restructuring initiatives during the
fourth quarter of 2008 and anticipate annual net savings from
such initiatives of approximately $160 million to
$180 million beginning in 2009.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for WYN: |
| |||||||
