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CIENA CORP 8-K/A Report, Exit or Disposal Costs (Sep 9, 2010)

Reports
Financial Events
Filing Date
Filed September 9, 2010
Period End
May 11, 2010
Security
CIEN
In the record · 2016–202610-K1010-Q338-K105

CIEN filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 105 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’16Apr ’16
  2. FY2018 annual report10-K · Dec ’18Dec ’18
  3. Leadership change8-K · Apr ’21Apr ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K/A filed September 9, 2010. Cited figures are marked; the original filing is the authoritative source.

This Form 8-K/A filing from Ciena Corporation (CIEN) amends a previous report filed on May 12, 2010, providing updated and estimated costs associated with restructuring activities in the Europe, Middle East, and Africa (EMEA) region.

These actions are a direct consequence of Ciena's acquisition of Nortel's Metro Ethernet Networks (MEN) business on March 19, 2010, and are aimed at reducing operating expenses and aligning the company's workforce and costs with market opportunities in EMEA. Investors should note that the restructuring involves a workforce reduction of approximately 120 to 140 positions, primarily within the Global Field Organization and Global Supply Chain. The total estimated restructuring costs are projected to be between $8.0 milliona and $10.0 million, with completion expected in the first half of calendar year 2011.

Ciena has already recorded $1.9 millionb in expenses related to an initial reduction of 26 employees during the third quarter of fiscal 2010. While the company anticipates these measures will improve operational efficiency, the forward-looking nature of these statements means actual results could differ due to various risk factors.

02—Key points

Key Highlights

  1. Amendment to a previous 8-K filing regarding EMEA restructuring costs.
  2. Restructuring follows the acquisition of Nortel's MEN business.
  3. Planned workforce reduction of 120-140 positions in the EMEA region.
  4. Estimated total restructuring costs range from $8.0 million to $10.0 million.
  5. Restructuring completion expected by the first half of calendar year 2011.
  6. Incurred $1.9 million in expenses during Q3 fiscal 2010 for initial employee reductions (26 employees).
  7. The primary goal is to reduce operating expenses and align resources with market opportunities.

03—Questions

Frequently Asked Questions

  1. What is the primary purpose of this 8-K/A filing?

    This filing amends a previous report to provide updated and estimated financial costs associated with Ciena's restructuring activities in the Europe, Middle East, and Africa (EMEA) region. These costs were not fully determinable at the time of the initial filing.

  2. What is driving these restructuring efforts?

    The restructuring is a result of Ciena's acquisition of the optical networking and Carrier Ethernet assets of Nortel's Metro Ethernet Networks (MEN) business on March 19, 2010. The goal is to reduce operating expenses and better align the company's workforce and costs with market opportunities in the EMEA region.

  3. How many employees will be affected by this restructuring, and what is the estimated cost?

    Ciena anticipates reducing its workforce in EMEA by approximately 120 to 140 positions. The total estimated costs for this restructuring are expected to range from $8.0 million to $10.0 million. Of this, $1.9 million has already been recorded in the third quarter of fiscal 2010 related to the initial reduction of 26 employees.

  4. When does Ciena expect to complete these restructuring activities?

    Ciena expects to complete these reorganization actions during the first half of calendar year 2011.

04—Continue

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