SMART Technologies to cut workforce by 25 pct
Dec 11 (Reuters) - Digital whiteboard maker SMART Technologies Inc said it would reduce its workforce by nearly 25 percent during the third and fourth quarters.
The company had 1,525 employees as of Mar. 31, according to a filing with the U.S. Securities Exchange.
SMART Technologies, which cut about 70 jobs in August and 225 jobs last year, also said it would realign itself into two business units.
Its restructuring plan, expected to be completed by March, will result in annualized pre-tax cost savings of about $40 million.
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Lost Malaysian airliner may have run out of fuel over Indian Ocean : source |
- UPDATE 2-Satellite data shows missing Malaysia plane may have flown thousands of miles-source
- Investigators focus on foul play behind missing Malaysia plane: sources |
- UPDATE 1-Rolls-Royce concurs with Malaysia on missing jet's engine data