Medical imaging technology developer Analogic will reduce its workforce by 6 percent worldwide and has vacated a portion of its facility in Canton, Mass.
The Peabody-Mass.-based company has laid off 85 persons, which will result in a $2.1 million charge for severance and related costs. By moving certain operations from its Copley Controls facility in Canton to its Peabody facility, the company will record a $1 million charge for ongoing lease payments. Analogic expects these actions to save the company $5 million annually.
“We recognize that workforce reductions are difficult for everyone”, commented Jim Green, president and CEO. “However, we have a commitment to improve our overall operational effectiveness and fund the ongoing investments needed to position Analogic for future growth. While market conditions over the past few quarters have been difficult, we remain optimistic as the market appears to be stabilizing.”