Subsequent Events |
3 Months Ended |
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Apr. 01, 2023 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent EventsShortly after the quarter ended the Test Systems segment implemented restructuring initiatives to align the workforce and management structure with near-term revenue expectations and operational needs. These initiatives are expected to provide savings of approximately $4 million to $5 million annually, beginning with the third quarter. The Company will incur $0.6 million in severance charges during the second quarter of 2023. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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