Creative Announces Q3 FY09 Restructuring Charges
SINGAPORE - 13 March 2009 - Creative Technology Ltd. today announced that it will incur restructuring charges of approximately US$10 million for the third quarter of its 2009 fiscal year, ending March 31, 2009.
The restructuring charges are related to severance payments and costs associated with headcount reductions, primarily in the Company's global field organizations and facilities costs from consolidation of certain international offices. In total, the Company expects to reduce headcount by about 300 worldwide, the majority of which will be from Europe and US.
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Creative is a worldwide leader in digital entertainment products. Famous for its Sound Blaster® audio cards and for launching the multimedia revolution, Creative is now driving digital entertainment on the PC platform with products like its highly acclaimed ZEN portable audio and media players. Creative's innovative hardware, proprietary technology, applications and services leverage the Internet, enabling consumers to experience high-quality digital entertainment -- anytime, anywhere.