Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
January 31, 2017
INVACARE CORPORATION
(Exact name of Registrant as specified in its charter)
|
| | |
Ohio | 001-15103 | 95-2680965 |
(State or other Jurisdiction of Incorporation or Organization) | (Commission File Number) | (I.R.S. Employer Identification Number) |
One Invacare Way, P.O. Box 4028, Elyria, Ohio 44036
(Address of principal executive offices, including zip code)
(440) 329-6000
(Registrant’s telephone number, including area code)
————————————————————————————————
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
————————————————————————————————————
| |
Item 2.05. | Costs Associated with Exit or Disposal Activities. |
On January 31, 2017, Invacare Corporation (the “Company”) implemented a reduction in its workforce of approximately 100 associates. The Company expects to incur pre-tax cash restructuring charges, primarily relating to severance and transition assistance, of approximately $2.2 million, that will be expensed in the first quarter of 2017. The Company expects cash payments to be made from January 2017 through September 2017. Once this reduction in workforce is completed, the Company expects that it will generate approximately $6.6 million in annualized pre-tax savings.
Item 7.01. Regulation FD Disclosure.
On January 31, 2017, the Company issued a press release announcing the reduction in workforce. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
|
| |
(d) Exhibits. | |
| |
Exhibit Number | Description of Exhibit |
| |
99.1 | Press Release, dated January 31, 2017. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
| | |
| INVACARE CORPORATION |
| (Registrant) |
| | |
Date: January 31, 2017 | By: | /s/ Robert K. Gudbranson |
| Name: | Robert K. Gudbranson |
| Title: | Senior Vice President and Chief Financial Officer |
Exhibit Index
|
| |
Exhibit Number | Description of Exhibit |
| |
99.1 | Press Release, dated January 31, 2017. |