Polycom to cut 3 percent of staff; company had more than 2,600 employees at end of last year
By APMonday, August 17, 2009
Polycom to cut 3 percent of staff
SAN FRANCISCO — Video and audio conferencing company Polycom Inc. said Monday it plans to cut 3 percent of its global work force. Most of the layoffs will happen immediately.
The Pleasanton, Calif.-based company didn’t specify the exact number of cuts in a filing with the Securities and Exchange Commission. Polycom said it expects to book between $5 million and $6 million in restructuring charges in the third quarter.
In January the company announced plans to cut 150 jobs.
At the end of 2008 the company employed 2,648 people, according to a regulatory filing.
Shares fell 53 cents, or 2.3 percent, to close at $22.48.
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