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Accelrys to Shut Bangalore R&D Shop, Lay-Off 60 Employees as Reorg Nears End

NEW YORK (GenomeWeb News) — Accelrys will shut down its R&D shop in Bangalore, India, as it nears the end of a restructuring plan and efforts to “modernize its legacy products,” the company said today in a Securities and Exchange Commission filing.
 
The company also said it will lay-off 60 employees who work at the facility and will pay out around $700 thousand to $900 thousand in mostly cash in severance and costs associated with the closure.
 
Accelrys said it expects to complete the restructuring by the fourth quarter of 2007.

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