The restructuring plan includes the elimination of approximately 200 employees, or 5 percent of the global workforce, with personnel departures expected to be substantially completed by Dec. 31, 2008. When combined with anticipated voluntary attrition and limited hiring, the total reduction in the global workforce is estimated to be between 8 percent and 10 percent by the end of the company's fiscal year on May 31, 2009.The firm expects restructuring costs to be in the range of $9-12 million, resulting in savings of $40-50 million.
Read Lawson's announcement for more.
Expect to see more of these sorts of announcements. Investors will view not vendors in a bad light for layoffs in the current economic climate, and in fact may actually view such actions favorably.
It's another story for those let go, of course. We hope the best for them and their families.
1 comment:
Do you ever blog about anything that's positive? Seems like your blog is all about the crappy things that happen with enterprise software vendors? Why not cover the good stuff that's happening?
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