The Company is undertaking a corporate restructuring plan designed to reduce administrative expenses, improve efficiencies, and align its workforce to the Company’s future needs, while enabling continued investment in the Company’s growth. The restructuring includes a voluntary early retirement program for certain groups of employees, the closing of certain open roles, involuntary role reductions, and making select changes to benefit programs. The Company expects to incur restructuring charges of approximately $22.0 million for one-time pension benefits, cash severance payments, other employee benefit costs, and professional fees. The charges were primarily recognized in the fourth quarter of fiscal 2025 and the first quarter of fiscal 2026. Of the estimated charges, the Company expects that approximately $9.0 million will be cash expenditures during fiscal 2026.

The Company recognized $0.1 million and $8.5 million of costs associated with restructuring activities during the second quarter and first six months of fiscal 2026. There were no restructuring costs recognized during the second quarter and first six months of fiscal 2025. All costs are unallocated corporate expenses which are not included in any of the reportable segments' measure of segment profit. A summary of these costs by type is as follows:


In thousands	Location on Consolidated Statements of Operations	Quarter Ended April 26, 2026		Six Months Ended April 26, 2026		Total Plan Costs
Cash Severance	Selling, General, and Administrative	$	6	$	6,727	$	6,727
Employee Benefits	Selling, General, and Administrative	44		1,386		1,386
Professional Fees	Selling, General, and Administrative	5		418		1,012
Pension Benefits	Other Income (Expense), Net	—		—		12,696
Total Restructuring Costs		$	55	$	8,531	$	21,821

The liability for cash severance and employee benefits was recorded in Employee-related Expenses and the liability for professional fees was recorded in Accounts Payable. The reconciliation of the beginning and ending liability balances showing activity during the year is as follows:


In thousands	Cash Severance		Employee Benefits		Professional Fees		Total
Liability Balances at October 26, 2025	$	—	$	—	$	594	$	594
Costs Incurred and Charged to Expense	6,727		1,386		418		8,531

Costs Paid or Otherwise Settled	(6,639)		(1,359)		(1,006)		(9,004)
Liability Balances at April 26, 2026	$	87	$	27	$	7	$	121