Analogic will reduce its global work force by 9 percent, or 140 jobs, combined with other cost cutting initiatives.
The Peabody, Mass.-based company said that the reduction in work force along with other cost reduction measures, are expected to save approximately $9.6 million annually. However, the company anticipates taking a restructuring charge of $3.4 million during the second quarter.
“Today's economic conditions require Analogic to align its cost structure to existing market conditions. However, we remain committed to our core markets in medical imaging and aviation security and will continue investing in technologies that position Analogic for profitable growth,” said Jim Green, Analogic’s president and CEO.