Quarterly report pursuant to Section 13 or 15(d)

Restructuring (Notes)

v2.4.0.8
Restructuring (Notes)
 6 Months Ended
Jun. 29, 2013
Restructuring and Related Activities [Abstract]  
Restructuring
Restructuring

2012 Restructuring Plan
In the fourth quarter of 2012, the Company implemented a restructuring plan designed to improve the Company's cost structure and to strengthen its competitiveness in core growth areas. The plan primarily involved a workforce reduction of approximately 14% as well as asset impairments and facility consolidations. In the second quarter of 2013, the Company incurred costs of $10 million related to its exit from a portion of its facility in Sunnyvale, California, partially offset by the release of employee severance costs of $5 million. The plan was substantially completed as of the end of the second quarter of 2013.
2011 Restructuring Plan
In the fourth quarter of 2011, the Company initiated a restructuring plan to strengthen its competitive positioning, implement a more competitive cost structure and conduct a workforce rebalancing to better address faster growing market segments. The plan included a reduction of the Company's global workforce by 13% and contract and program terminations. The plan was substantially completed as of the end of the first quarter of 2012.
The following table provides a summary of the activity related to the 2012 and 2011 restructuring plans and the related liabilities recorded in “Other current liabilities” on the Company's consolidated balance sheets remaining as of June 29, 2013:
 
 
Severance and related benefits
 
Other exit related costs
 
Total
 
 
 
(In millions)
 
 
Balance as of December 29, 2012
$
41

 
$
17

 
$
58

Charges (reversals), net
(5
)
 
10

 
5

Cash payments
(32
)
 
(17
)
 
(49
)
Balance as of June 29, 2013
$
4

 
$
10

 
$
14