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Accuray Inc. (ARAY) to Cut 5% of Jobs to Reduce Cost


11/16/2011 8:01:12 AM

Medical device maker Accuray Inc said it would cut about 5 percent of its workforce, or 51 jobs, to reduce cost following its acquisition of smaller rival TomoTherapy earlier this year. Accuray, which makes devices to treat cancer, said it already cut 29 positions effective Nov. 15, and will eliminate remaining 22 jobs in phases during the rest of fiscal 2012. The company will record a charge of about $1.7 million related to the Nov. 15 job cut, in the second quarter. It would record the rest of the charges in the latter half of the fiscal year.

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