UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
March 31, 2009
Date of Report (Date of earliest event reported)
SHORETEL, INC.
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
| 001-33506 | 77-0443568 | |
| (Commission file number) | (I.R.S. Employer Identification No.) | |
| 960 Stewart Drive, Sunnyvale, CA | 94085 | |
| (Address of principal executive offices) | (Zip Code) | |
(408) 331-3300
(Registrant’s telephone number, including area code)
Not Applicable
(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 obligations of the registrant under any of the following provisions (see General Instruction A.2 below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | 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 March 31, 2009, ShoreTel announced a restructuring plan to lower its cost structure and improve efficiencies by reducing its worldwide workforce by approximately 9 percent. As a result of the reduction in headcount, ShoreTel expects to record restructuring and other related charges, consisting of employee related termination costs of approximately $400,000 to $600,000 in the third fiscal quarter ended March 31, 2009. All actions are expected to be completed in the fourth fiscal quarter, which ends June 30, 2009.
This report contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including, without limitation, statements regarding restructuring costs. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The risks and uncertainties include potential additional costs and delays in connection with complying with U.S. and international employment and labor laws.
SIGNATURES
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.
| SHORETEL, INC. | ||||||
| Date: April 6, 2009 | By: | /s/ Michael E. Healy | ||||
| Name: Michael E. Healy | ||||||
| Title: Chief Financial Officer | ||||||