Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
FORMFACTOR INC announced a restructuring with charges of Restructuring charges primarily related to impairment of leasehold improvements, facility exits, severance, retention and other employee-related costs, and cont affecting Carlsbad, California and Baldwin Park, California (approximately 200 to 300 employees).
- Type
- restructuring
- Charge
- Restructuring charges primarily related to impairment of leasehold improvements, facility exits, severance, retention and other employee-related costs, and cont
- Affected area
- Carlsbad, California and Baldwin Park, California
- Headcount
- approximately 200 to 300 employees
Exact text from the filing
On January 5, 2026, FormFactor, Inc. (“we”, “the Company” or “FormFactor”) adopted restructuring plans that are intended to better align cost structure and support gross margin improvement to the Company’s target financial model, while also aligning manufacturing capabilities with current and anticipated business needs and the Company's strategic priorities. As part of this restructuring plan, the Company is consolidating the manufacturing facilities located in Carlsbad, California and Baldwin Park, California. As a result, we have incurred, or expect to incur, personnel-related costs to sever or retain approximately 200 to 300 employees. We expect the actions defined under these plans will be largely completed by the end of December 2026, except facilities charges, which may extend beyond that time. The restructuring plans are expected to result in the Company recording restructuring charges in the aggregate amount of approximately $30 to $40 million on a GAAP basis, estimated to be c
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