Layoffs: Accuray to cut 13% of its workforce amid "strategic transformation"
January 4, 2013 by MassDevice staff
New Accuray president & CEO Joshua Levine plans to cut about 13% of the company's workers in efforts to execute a "strategic transformation" that will save the company about $40 million per year.
Sunnyvale, Calif.-based radiotherapy devices maker Accuray (NSDQ:ARAY) will lay off about 13% of its global workforce, mostly in the U.S., the company reported this week.
Accuray made the announcement upon releasing its preliminary 2nd quarter 2013 financial results, in which the company noted a 45%-50% decline in product revenue.
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