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Analogic Corporation
Analogic Corporation Announces Restructuring to Align Business with Current Market Conditions
February 15th, 2009
Analogic Corporation (NASDAQ: ALOG), a leading provider of medical imaging and aviation security technology, announced that it will reduce its workforce by approximately 140 positions or 9% worldwide as global economic conditions continue to put pressure on healthcare capital equipment markets. This reduction in force along with other cost reduction initiatives will result in the company avoiding costs of approximately $9.6 million on an annual basis. The company expects to take a restructuring charge of $3.4 million during the second fiscal quarter. Jim Green, President and CEO, commented, “Today’s economic conditions require Analogic to align its cost structure to...
Source: Pharma Investments, Ventures & Law Weekly (2009-02-15)
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