UPDATE 1-Lawson to cut jobs, close office
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Nov 18 (Reuters) - Business software maker Lawson Software Inc (LWSN.O) said it plans to cut 200 jobs, close one office facility and reduce discretionary expenses as part of a plan to cut costs.
The company said it expects to take pre-tax charges of $9 million to $12 million, the majority of which will be recorded in the second quarter ending Nov. 30.
The company expects to save about $40 million to $50 million annually from these actions. The job cuts amount to about 5 percent of its total workforce.
Shares of Lawson rose 4 percent in trading after the bell. They closed at $3.77 Tuesday on the Nasdaq. (Reporting by Aftab Ahmed in Bangalore; Editing by Anil D'Silva) (( Reuters Messaging: aftab.ahmed@thomsonreuters.com; within U.S +1 646 223 8780; outside U.S +91 80 4135 5800))
