UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) July 23, 2007
VYYO INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware |
| 000-30189 |
| 94-3241270 |
(State or Other Jurisdiction |
| (Commission |
| (IRS Employer |
of Incorporation) |
| File Number) |
| Identification No.) |
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6625 The Corners Parkway, Suite 100, Norcross, Georgia |
| 30092 | ||
(Address of principal executive offices) |
| (Zip Code) |
Registrant’s Telephone Number, Including Area Code (678) 282-8000
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.05 Costs Associated with Exit or Disposal Activities.
On July 23, 2007, Vyyo Inc. (the “Registrant”) began the implementation of a cost reduction program. The Registrant reviewed the size and composition of its workforce and made adjustments after evaluating a variety of factors. In connection with this cost reduction program, the Registrant has reduced its workforce by approximately 16% in the third quarter of 2007 (when compared to the workforce levels as of June 30, 2007). The Registrant expects to record approximately $400,000 in one-time cash severance payments and related expenses. This cost reduction does not require the termination of any contractual obligations or require the Registrant to incur other material associated costs.
SIGNATURE
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.
VYYO INC. | ||
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Date: July 27, 2007 | By: | /s/ Tashia L. Rivard |
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| Tashia L. Rivard |
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| General Counsel and Corporate Secretary |