Thomas Group Inc - Current report filing (8-K)
April 03 2008 - 12:29PM
Edgar (US Regulatory)
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
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Date of report (Date of earliest event reported):
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March 31, 2008
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(Exact name of registrant as specified in its charter)
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Delaware
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0-22010
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72-0843540
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(State
or other jurisdiction of
incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification
No.)
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5221 N. OConnor Blvd., Suite 500
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Irving, Texas
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75039
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(Address of principal executive offices)
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(Zip Code)
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Registrants Telephone
Number, including area code:
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(972)
869-3400
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(Former name or former
address, 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:
o
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o
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
March 31, 2008, Thomas Groups board of directors adopted a restructuring
plan and approved reductions in force affecting approximately one-third of its
employees. These actions were announced in a press release dated April 2,
2008. A copy of this press release is attached hereto as Exhibit 99.1 and
is incorporated herein by reference. The Company estimates that these
activities will remove approximately $6.0 million of annualized operating
costs. The Company further announced that it will record a charge of
approximately $180,000 to $250,000, net of tax effects, for one-time
termination benefits related to employee severance and other benefits in its
second quarter 2008 operating results. No other charges are expected as a
result of these actions.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits
Exhibit Number
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Description
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99.1
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Press
Release issued April 2, 2008 entitled Thomas Group Announces Reductions
in Force.
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2
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Thomas
Group, Inc.
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(Registrant)
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Date:
April 2, 2008
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By:
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/s/ Michael J. Barhydt
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Michael J. Barhydt,
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Vice President & Chief Financial Officer
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Exhibit Index
Exhibit Number
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Description
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99.1
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Press
Release issued April 2, 2008 entitled Thomas Group Announces Reductions
in Force.
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4
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