TomoTherapy cuts work force by 12%

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Hoping to reap in costs, TomoTherapy initiated layoffs. Image Source: ACC TV  

TomoTherapy, a developer and marketer of radiation therapy systems, has reduced its work force by approximately 12 percent through a combination of layoffs and the elimination of open positions.

As a result of this action, the company estimated that it will generate annual savings of approximately $5.4 million beginning in 2009. During the fourth quarter, the Madison, Wis.-based TomoTherapy will incur a one-time charge of approximately $1.8 million related to severance costs.

As of Sept. 30, TomoTherapy had 721 employees.