Aviat Networks is implementing a corporate restructuring plan to reduce annual spending of $30 to $35 million, restore profitability and establish a platform to drive sustainable revenue growth.
Plans call for a reduction in workforce and consolidation of its global presence by closing and/or relocating select facilities. The workforce reduction will be achieved through severance programs and attrition, with most of the key actions occurring in the first and second quarters of fiscal 2011. Prior to this announcement, the Company had already ceased manufacturing operations in San Antonio, and had begun consolidating operations in India and in China.
In connection with the restructuring plan, Aviat Networks will incur pre-tax restructuring charges currently estimated to be approximately $11 to $13 million related to severance costs as well as impairment of facilities and other assets.
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- In June 2010, Aviat Networks appointed Chuck Kissner as its new CEO, following the resignation of Harald J. Braun. Kissner has been serving as the company's Chairman of the Board of Directors and will be based at its headquarters location in Santa Clara, California. He previously served as CEO of Stratex Networks, Inc., a predecessor of Aviat Networks, from July 1995 through May 2000, again from October 2001 to May 2006 and also was Chairman of the Board of Directors of Stratex from August 1996 through 2006.
