Restructuring Charges |
6 Months Ended |
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Dec. 31, 2019 | |
| Restructuring and Related Activities [Abstract] | |
| RESTRUCTURING CHARGES |
NOTE 19 – RESTRUCTURING CHARGES
In September 2019, management approved a plan to streamline our organization and business processes that included the reduction of workforce, which is expected to be completed in the second half of our fiscal year 2021, primarily in our PCB, Display and Component Inspection segment, and a potential disposition of our solar energy business in our Other segment. Restructuring charges were $2.7 million and $2.8 million for the three and six months ended December 31, 2019. Proceeds from disposition of our solar energy business are not expected to be material. As of December 31, 2019, the accrual for restructuring charges was $2.8 million.
We expect to incur additional restructuring charges, including additional severance costs and other related costs in future periods in connection with the completion of our workforce reduction.
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- References No definition available.
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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