Calix sees restructuring charges of $6.8M for 2017
In March 2017, Calix adopted a restructuring plan that seeks to realign the company's business to increase its focus towards its investments in innovative Software Defined Access systems and software, while reducing its cost structure in the traditional systems business. The company said today it has recognized restructuring charges of approximately $1.7M for the six months ended July 1, consisting primarily of severance and other one-time termination benefits. Throughout the remainder of 2017, the company intends to take further actions under this plan and expects to incur total pretax charges of up to $6.8M for the full year related to this plan. These actions are anticipated to result in annualized cost savings approximately equal to the total charges incurred. The company expects to see cost reduction benefits as a result of these charges starting in FY18.