QUANTUM CORP DE
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
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Restructuring Charges
NOTE 7: RESTRUCTURING CHARGES
During the quarters ending September 30, 2024 and 2023, the Company approved certain restructuring plans to improve operational efficiencies and rationalize its cost structure.
The following tables show the activity and the estimated timing of future payouts for accrued restructuring (in thousands) included in other current liabilities:
| Severance and Benefits | |
|---|---|
| Balance as of March 31, 2023 | $— |
| Restructuring charges | 2,667 |
| Cash payments | (2,667) |
| Balance as of September 30, 2023 | $— |
| Balance as of March 31, 2024 | $— |
| Restructuring charges | 1,571 |
| Cash payments | (1,511) |
| Other non-cash | (2) |
| Balance as of September 30, 2024 | $58 |
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