Cray Inc Plans To Cut Staff By 65 People
DOW JONES NEWSWIRES
December 14, 2005 7:00 p.m.
WASHINGTON -- Cray Inc. (CRAY) on Wednesday disclosed that it plans to reduce its staff by 65 people, or 8% of its workforce, during 2006.
The company said in a filing with the Securities and Exchange Commission that it announced the plan to its employees on Monday.
The company said the reduction is part of a plan intended to increase research and development efficiencies, lower costs and further integrate its technology platform.
Most of the workforce reduction is expected to take place by March 31, 2006, the filing said.
"Almost all of the staff reductions affect our international sales, service and engineering personnel, many based out of our Burnaby, British Columbia, Canada, facility, with the remainder in Europe," said the Seattle company, which makes computer systems.
-By Tony Cooke, Dow Jones Newswires; 202-862-1347; tony.cooke@dowjones.com |
