NEW YORK (GenomeWeb News) – Accelrys plans to reduce its workforce by up to 15 employees as part of a streamlining of its business, it disclosed in a quarterly earnings document filed with the US Securities and Exchange Commission earlier this month.
The San Diego-based life sciences software solutions company said that it started the process on May 3 and expects to complete it by the end of the year. The total reduction in its workforce will be between 10 and 15 employees.
Accelrys said that it will take a charge of $1 million in connection with the action.
In its SEC document, the firm said that the reduction is "in connection with the streamlining of its operation and integrating its content business."
Max Carnecchia, president and CEO of Accelrys, hinted at the action when the firm released its first-quarter results, in which Accelrys reported a 66 percent increase in revenues year over year. At that time, he said that in connection with the integration of the Symyx acquisition, "we are commencing the restructuring and streamlining of our content product lines in order to better integrate them with our software business."