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Tuesday, February 01, 2005, 05:00 pm PT (08:00 pm ET)

Briefly: Apple to layoff 60 in restructuring effort (Updated)

In its quarterly report to the U.S. Securities and Exchange Commission on Tuesday, Apple Computer detailed recent expenditures associated with the development of its next-generation operating system, costs incurred by the use Steve Jobs' private jet plane, and plans to layoff of an additional 60 employees.

Apple recorded total restructuring charges of approximately $23 million during the year ended September 25, 2004, the report notes.

"Of the $23 million charge, $16 million had been utilized by the end of the first quarter of 2005, with the remaining $7 million consisting of $3.7 million for employee severance benefits and $3.3 million for lease cancellations."

The company said these actions will result in the termination of 485 positions, 415 of which had been terminated prior to the end of the first quarter of 2005.

The company also said that during the first quarter of 2005 and the fourth quarter of 2004, it spent a combined 19.3 million in costs associated with the development of Tiger. During the same two fiscal quarters, the company said it incurred expenses associated with the use of Steve Jobs' personal Gulfstream V jet totaling $419,000 and $282,000, respectively.

Update: A new report on MacNN provides extensive coverage of Apple's SEC filing, while an earlier article at The Mac Observer also offers some interesting tidbits.