Medical imaging firm Analogic of Peabody, MA, announced last week that it is cutting staff by 6% worldwide.
The company said that it has laid off 85 employees across the business. It is also vacating half of its Copley Controls facility in Canton and moving some operations from there to its Peabody headquarters.
Analogic said it will record a $3.1 million charge in its financial results for the fourth quarter of 2009 for the layoffs and the move. The company believes the layoffs will result in annual savings of $5 million, part of which it plans to use to fund strategic growth initiatives.
Related Reading
Analogic sales drop, but profit rises, June 5, 2009
Analogic posts mixed Q2 results, March 5, 2009
Analogic to cut staff, January 29, 2009
Analogic profit shrinks in Q1, December 10, 2008
Analogic names two execs to China posts, November 7, 2008
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