RadioShack Corporation Form 8-K April 19, 2007
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): April 19, 2007
Commission
file number
1-5571
RADIOSHACK
CORPORATION
(Exact
name of
registrant as specified in its charter)
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Delaware
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75-1047710
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(State
or
other jurisdiction of incorporation)
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(I.R.S.
Employer Identification No.)
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300
RadioShack Circle, Mail Stop CF3-203,
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Fort
Worth,
Texas
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76102
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(Address
of
principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (817) 415-3700
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
¨ Soliciting
material
pursuant to Rule 14a-12 under the Exchange Act
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
Item
8.01. Other
Events
RadioShack
Corporation (the “Company”) commenced a workforce reduction in April 2007 of
approximately 280 positions across its various support functions, primarily
at
the Company’s headquarters operation. A majority of these reductions took
place on April 19, 2007.
In
connection with the reductions, the Company estimates that it will incur a
pre-tax charge of approximately $8.5 million for one-time termination benefits.
The charge will be recorded in the Company’s financial statements for the fiscal
quarter ended March 31, 2007. The Company estimates that these reductions,
combined with the elimination of open positions, will result in an annualized
pre-tax savings of approximately $30 million. The Company does not expect to
incur any other material charges in connection with these reductions.
Statements
made in this Current Report on Form 8-K that are forward-looking involve risks
and uncertainties and are indicated by words such as “estimates,” “anticipates,”
“expects” and other similar words or phrases. These uncertainties include, but
are not limited to, the Company’s profitability, wireless industry changes,
economic conditions, product demand, competitive products and pricing,
availability of products, the regulatory environment and other risks indicated
in the Company’s filings with the SEC such as the Company’s most recent Form
10-K. Actual results could differ materially from those expressed or implied
in
the forward-looking statements.
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 thereunto
duly
authorized this 19th
day of April,
2007.
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RADIOSHACK
CORPORATION
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/s/
James
F.
Gooch
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James
F.
Gooch
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Executive
Vice President and Chief
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Financial
Officer
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