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
January 12, 2009
Date of report (Date of earliest event reported)
HUTCHINSON TECHNOLOGY
INCORPORATED
(Exact Name of Registrant as Specified in its Charter)
| | | | | |
| Minnesota | | 0-14709 | | 41-0901840 |
| | | | | |
| (State of Incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
| | | |
40 West Highland Park Drive N.E.,
Hutchinson, Minnesota | | 55350 |
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| (Address of Principal Executive Offices) | | (Zip Code) |
(320) 587-3797(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 obligation of the registrant under any of the following provisions (seeGeneral 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 7.01. Regulation FD Disclosure.
The information in this Current Report is being furnished pursuant to Item 7.01 of Form 8-K and according to general instruction B.2. thereunder, the information in this Item 7.01 shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to liability under such Section. The information contained herein shall not be incorporated by reference into any registration statement or other document filed with the Securities and Exchange Commission by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
On January 12, 2009, Hutchinson Technology Incorporated (the “Company”) provided local and state government officials and local media outlets with an update regarding its previously announced workforce reduction.
Specifically, the Company communicated that the workforce reduction will total approximately 1,380 or approximately 30% of its workforce. This increase over the Company’s previously announced plan of a 20-25% workforce reduction is primarily due to a lower demand outlook for its fiscal year 2009 and continued market and economic uncertainty.
The Company will not comment further on its restructuring actions until issuing its fiscal 2009 first quarter results announcement, which is scheduled for January 27, 2009. At that time, the Company will discuss its financial results for the first quarter and provide further details on the changes to its overall cost structure.
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.
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| | HUTCHINSON TECHNOLOGY INCORPORATED
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| Date: January 12, 2009 | /s/ John A. Ingleman | |
| | John A. Ingleman | |
| | Senior Vice President and Chief Financial Officer | |
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