Form 8-K for AUTODESK INC
Costs Associated with Exit or Disposal Activities
Item 2.05 Costs Associated with Exit or Disposal Activities.
On September 24, 2013, Autodesk, Inc. (the "Company") approved a restructuring plan that includes staff reductions and the consolidation of certain leased facilities. The Company expects to substantially complete these efforts by the end of its first quarter of fiscal 2015 (ending April 30, 2014). The Company anticipates incurring pre-tax restructuring charges of $15 million to $20 million, all of which would result in cash expenditures and of which $12 million to $16 million would be for one-time employee termination benefits and $3 million to $4 million would be for facilities-related costs. Approximately $8 million to $10 million of these pre-tax charges will be expensed in the third quarter of fiscal 2014 (ending October 31, 2013), $3 million to $5 million of these pre-tax charges will be expensed in the fourth quarter of fiscal 2014 (ending January 31, 2014), with the remainder in the first quarter of fiscal 2015.
The Company is taking these actions to re-balance staffing levels to better align them with the evolving needs of the business. While the Company is reducing its staffing levels areas in the near-term, the Company will increase staffing in areas where there is increased demand and opportunity.