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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: September 17, 2004
(Date of earliest event reported)
McAFEE, INC.
(Exact Name of Registrant as specified in Charter)
Delaware Commission File No.: 77-0316593
(State or other Jurisdiction 0-20558 (I.R.S. Employer
of incorporation) Identification No.)
3965 Freedom Circle
Santa Clara, California 95054
(Address of Principal Executive Offices, including zip code)
(408) 346-3832
(Registrant's telephone number, including area code)
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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.
We have determined to relocate our Europe Middle East & Africa ("EMEA")
operating headquarters from The Netherlands to Ireland. On September 17, 2004,
as part of this relocation, we finalized the social plan for our employees in
The Netherlands which sets forth the framework for the severance and relocation
benefits provided to impacted employees. In connection with this activity, we
expect to incur restructuring charges related to employee severance costs of
between $2.5 million and $3.5 million, all of which will result in cash
expenditures. The restructuring expense will be recorded primarily over the
fourth quarter of 2004 and the first quarter of 2005 as the employees provide
transition services to the Company. The EMEA relocation is expected to be
substantially complete by March 2005. The above range is subject to a number of
assumptions (including assumptions regarding the number of employees relocating
and/or accepting severance packages) and actual results may differ, perhaps
materially.
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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.
MCAFEE, INC.
Date: October 22, 2004 By: /s/ Stephen C. Richards
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Stephen C. Richards
Chief Operating Officer and
Chief Financial Officer