Restructuring and Related Activities |
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| Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring, Impairment, and Other Activities Disclosure | Restructuring Charges In the fourth quarter of 2024, the Company implemented a restructuring plan (the 2024 Restructuring Plan) focused on driving efficiencies and aligning resources with the Company’s largest growth opportunities in the AI and enterprise markets. The 2024 Restructuring Plan will primarily reduce global workforce by approximately 4% of headcount. Restructuring charges are included within the All Other category presented in Note 4 – Segment Reporting. Significant asset impairment charges are discussed in Note 6 - Acquisition-related Intangible Assets and Goodwill. The Company expects actions associated with the 2024 Restructuring Plan to be substantially completed by the end of the first quarter of fiscal year 2025. As of December 28, 2024, $89 million of accrued restructuring charges are recorded within Accrued liabilities of the Company’s Consolidated Balance Sheets.
The following table summarizes activities and components of liabilities related to the 2024 Restructuring Plan:
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- References No definition available.
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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. No definition available.
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