This excerpt taken from the YHOO 8-K filed Jun 19, 2009.
Item 2.05 Costs Associated with Exit or Disposal Activities.
On April 21, 2009, the Company filed the Original 8-K disclosing its plans to reduce its number of current employees worldwide by approximately 5 percent. At the time of filing the Original 8-K, the Company was unable to estimate the total charges expected to be incurred in connection with the workforce reduction.
The Company estimates that it will incur total pre-tax cash charges of between $30 million and $34 million in severance pay expenses and related cash expenditures in connection with this workforce reduction. The pre-tax cash charges will be offset by a credit related to stock-based compensation expense reversals for forfeited stock-based awards of between $7 million and $8 million, resulting in restructuring charges, net of between $22 million and $27 million, all of which are expected to be recorded in the second quarter of 2009.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 19, 2009