Today's PLCM 8K

Short and sweet:

"On August 14, 2009, Polycom, Inc. (the “Company”) committed to a restructuring plan to realign and reinvest resources in the strategic growth areas of the business. The Company is eliminating those positions that are not aligned with the go-to-market structure under our new sales leadership and reallocating resources to growth areas. The plan includes elimination of approximately three percent of the Company’s global workforce, with most of these reductions taking effect immediately. The Company currently expects to record restructuring charges resulting from these actions totaling between approximately $5 million and $6 million in the third quarter of 2009, which amounts will be paid in cash through the second quarter of 2010. These charges and payments primarily relate to severance and other employee termination benefits."

So, maybe 60 people or so were let go. I did hear that severance in this round was pretty good...a year of pay. Of course..some that were let go were there for years and years. Of the 9 I heard of in the US, at least three of them had been at the company for over 10 years each.