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 (Date of earliest event reported): January 26, 2009
IDT
CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
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1-16371
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22-3415036
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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520
Broad Street
Newark,
New Jersey
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07102
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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: (973) 438-1000
Not
Applicable
(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 (see General Instruction A.2. below):
¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item 2.05
Costs Associated with Exit or Disposal Activities
On January 26, 2009, IDT Corporation
(the “Registrant”) committed to a plan to effect a reduction in force (that
is expected to result in cuts of 146 jobs (approximately 8.5% of the total
workforce). In connection with the reduction in force, the
Registrant currently expects to incur costs of approximately $4.9 million
and expects to take a charge of that amount in the second quarter of Fiscal
2009. Cuts will be mainly in the telecom and capital divisions and at the
corporate level, and will span across the Registrant’s geographic
locations. The reduction in force is expected to be completed by
January 31, 2009.
Item 8.01
Other Events
This
Current Report on Form 8-K, contains forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements typically are identified by use of terms such
as “may,” “will,” “should,” “plan,” “expect,” “anticipate,” “estimate” and
similar words, although some forward-looking statements are expressed
differently. While these forward-looking statements represent our current
judgment of what may happen in the future, actual results may differ materially
from the results expressed or implied by these statements due to numerous
important factors, including, but not limited to, those described in our most
recent report on SEC Form 10-K (under the headings "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations"), which may be revised or supplemented in subsequent reports on SEC
Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any
obligation, to update the forward-looking statements in this Current Report on
Form 8-K, whether as a result of new information, future events or
otherwise.
SIGNATURE
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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IDT
CORPORATION
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By:
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Name:
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James
A. Courter
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Title:
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Chief
Executive Officer
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Dated:
January 30, 2009
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