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
Date of Report (Date of earliest event reported): September 2, 2015
QLOGIC CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | 0-23298 | 33-0537669 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
26650 Aliso Viejo Parkway, Aliso Viejo, California | | 92656 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (949) 389-6000
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:
[ ] | 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 September 2, 2015, QLogic Corporation (the “Company”) approved a restructuring plan designed to better align the Company’s future operating expenses with its current revenue expectations. The restructuring plan consists of workforce reductions which the Company anticipates will be substantially completed during the Company’s fiscal 2016.
In connection with the restructuring plan, the Company expects to incur between $5 million and $6 million of pre-tax cash charges associated with the restructuring plan, consisting of employee termination benefits. The Company expects that the charges associated with the restructuring plan will be recorded in the Company’s fiscal 2016.
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.
| | | QLOGIC CORPORATION |
| | | |
September 9, 2015 | | | /s/ Jean Hu |
| | | Jean Hu |
| | | Acting Chief Executive Officer, Senior Vice President and Chief Financial Officer |
