v3.26.1
Note 6 - Restructuring
6 Months Ended
Jul. 04, 2026
Notes to Financial Statements  
Restructuring and Related Activities Disclosure [Text Block]

Note 6 - Restructuring

 

Under the Q3 2024 Plan, which is described in our 2025 10-K, we incurred restructuring costs of less than $0.1 million and $1.5 million, respectively, in the second quarter of fiscal 2026 and 2025 and $0.5 million and $1.6 million, respectively, in the first six months of fiscal 2026 and 2025. Under this plan, $11.5 million of total costs have been incurred through July 4, 2026. All actions planned under the Q3 2024 Plan have been implemented.

 

Other restructuring activity in the periods presented consisted of expense adjustments on previous plans. Costs and adjustments on restructuring plans are recorded to Restructuring and other on our Consolidated Statements of Operations. The restructuring accrual balance is presented in Accrued liabilities and in Other long-term liabilities on our Consolidated Balance Sheets. The following table displays the activity related to our restructuring plans:

 

(In thousands)

 

Severance & Related

  

Lease Termination & Fixed Assets

  

Total

 

Accrued Restructuring at January 3, 2026

 $956  $  $956 

Restructuring

  465   (8)  457 

Costs paid or otherwise settled

  (1,417)  8   (1,409)

Accrued Restructuring at July 4, 2026

 $4  $  $4 
             

Accrued Restructuring at December 28, 2024

 $1,905  $2,964  $4,869 

Restructuring

  1,589   104   1,693 

Costs paid or otherwise settled

  (2,715)  (937)  (3,652)

Accrued Restructuring at June 28, 2025

 $779  $2,131  $2,910