Lawson to cut jobs, close office
(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 November 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)
