Subsequent Event Subsequent Event (Notes)
|9 Months Ended|
Jun. 28, 2015
|Subsequent Event [Abstract]|
Note 12 - Subsequent Event
On July 22, 2015, the Company announced a Strategic Realignment Plan designed to improve execution, enhance financial performance and drive profitable growth as the Company works to create sustainable long-term value for stockholders. As part of this, among other actions, the Company is implementing a cost reduction plan to reduce annual costs from fiscal 2015 levels of $7.3 billion (adjusted for variable compensation) by approximately $1.1 billion through a series of targeted reductions across the Company’s businesses, particularly in QCT. The Company also plans to reduce annual share-based compensation grants by approximately $300 million. The Company expects these cost initiatives to be fully implemented by the end of fiscal 2016. In connection with this plan, the Company expects to incur approximately $350 million to $450 million in restructuring and restructuring-related charges, of which approximately $100 million to $200 million are expected to be incurred in the fourth quarter of fiscal 2015. Restructuring and restructuring-related charges include an estimate of severance costs, lease termination costs, acceleration of depreciation, consultancy fees and other costs.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
No definition available.