Note M - Restructuring of Operations |
9 Months Ended | ||||||||||||||||||||||
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Mar. 28, 2025 | |||||||||||||||||||||||
| Notes to Financial Statements | |||||||||||||||||||||||
| Restructuring, Impairment, and Other Activities Disclosure [Text Block] |
Restructuring expenses
The Company has implemented various restructuring programs in response to unfavorable macroeconomic trends in certain of the Company’s markets since the fourth quarter of fiscal 2015. These programs primarily involved the reduction of workforce in several of the Company’s manufacturing locations, under a combination of voluntary and involuntary programs. During the fourth quarter of fiscal 2021, the Company undertook a series of steps to accelerate its focus on its core competencies, improve its fixed cost structure, and monetize some of its under-utilized assets.
The Company continued its restructuring plans with regard to its Belgian operations during fiscal year 2025 and 2024. A voluntary program was implemented to reduce the workforce. The action was taken to allow the Belgian operation to focus resources on core manufacturing processes, while allowing for savings on the outsourcing of non-core processes.
Total restructuring charges relating to streamlining operations totaled $287 and $139 in the quarters ending March 28, 2025 and March 29, 2024, respectively. Total restructuring charges relating to streamlining operations totaled to $355 and $207 in the three quarters ending March 28, 2025 and March 29, 2024, respectively.
The following is a roll-forward of restructuring activity:
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