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Restructuring Expenses
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Jan. 31, 2012
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| Restructuring Expenses |
8. Restructuring Expenses
During fiscal 2012, the Company continued to take actions to lower its cost structure as it strives to improve its financial performance and incurred restructuring charges totaling $3.3 million including severance costs of $2.8 million for the termination of 33 employees, including the departure of the President and the retirement of the Chief Executive Officer, the write-down of $430,000 of inventory relating to discontinued VOD server product lines and $270,000 charge for the disposal of fixed assets relating to the New Hampshire facility. During fiscal 2011, we incurred restructuring charges of approximately $7.0 million related to the termination of 110 employees, incurred an inventory write-down of approximately $2.5 million and took a charge related to the disposal of fixed assets of $1.3 million as part of an overall restructuring plan.
The severance amounts reported as a component of accrued liabilities on the Balance Sheet as of January 31, 2012 were as follows:
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