Note 14 - Restructuring Charges
|12 Months Ended|
Dec. 29, 2019
|Notes to Financial Statements|
|Restructuring and Related Activities Disclosure [Text Block]||
Dongguan facility closure:
September 2019,the Company announced it plans to close its Dongguan manufacturing facility in China, concurrent with the expiry of the facility lease in
December 2019,which was extended to
February 2020.The closure was formally approved by the Board of Directors in
September 2019.The closure of the Dongguan manufacturing facility resulted in a reduced labor force by approximately
137employees. The employee group was notified of the closure in the last week of
September 2019.The closure of the Dongguan facility and majority of the cash outflows associated with the
$2,037included within the restructuring liability for severance and other exit costs is anticipated to be substantially completed by the end of the
2020.Manufacturing by the Company of certain products previously manufactured at the Dongguan Facility will be transferred to the Company’s other manufacturing facilities. A restructuring charge of
$5,000was recorded in the
December 29, 2019relating to the announced planned closure.
Other restructuring charges:
2019involuntary employee termination benefit costs of
onetime termination plans were incurred related to the reduction of
47full-time equivalents (“FTEs”) in U.S,
8full-time equivalents (“FTEs”) in Markham, Canada and
630FTEs and contract employees in Mexico.
The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef