Radiation therapy developer TomoTherapy of Madison, WI, has laid off 12% of its work force.
The company said that the reduction will generate savings of $5.4 million in 2009. TomoTherapy will incur a one-time charge of $1.8 million in the fourth quarter of 2008 for severance payments.
TomoTherapy said the layoffs were due to slowed company growth from economic conditions. The company had 721 employees as of September 30.
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