UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 18, 2006 ESS TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
| | | | | |
California
(State or other jurisdiction
of incorporation) | | 0-26660
(Commission File Number) | | 94-2928582
(IRS Employer
Identification No.) |
| | | |
48401 FREMONT BOULEVARD
FREMONT, CA
(Address of principal
executive offices) | | 94538
(Zip Code) |
Registrant’s telephone number, including area code: (510) 492-1088
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:
| 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) |
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| o | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
Item 2.05. Costs Associated with Exit or Disposal Activities.
On September 18, 2006, ESS Technology, Inc. (ESS) announced a plan to eliminate approximately 102 positions across multiple divisions, effective on September 18, 2006. The action is being taken as part of an ongoing strategic review of the Company’s overall business.
The Company estimates that the total charges for the restructuring will be approximately $648,000 for severance payments and other miscellaneous costs, which will be recorded in the third quarter of 2006 and result in cash expenditures of that amount in the third quarter of 2006.
Item 9.01. Financial Statements and Exhibits.
99.1 Press Release dated September 18, 2006.
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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.
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| Date: September 20, 2006 | ESS TECHNOLOGY, INC.
| |
| | By: | /s/ Robert L. Blair | |
| | | Robert L. Blair | |
| | | President and Chief Executive Officer | |
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EXHIBIT INDEX
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| 99.1 | | Press Release dated September 18, 2006. |
