NEW YORK, March 9 (GenomeWeb News) - Accelrys is cutting about 50 jobs, or 10 percent of its workforce, in an effort to save $6 million annually, according to an SEC filing yesterday.
The company said the cutbacks began on Tuesday and should be completed by the first quarter of its 2007 fiscal year.
Accelrys also plans to close a portion of its facilities in Cambridge, UK.
The company said it expects to incur between $3.5 million and $3.8 million in a one-time charge, including severance and facilities abandonment costs.
Accelrys said the actions "are intended to further realign the company's resources with its portfolio of products and services, eliminate redundancies ... and streamline operations."