Accuray to cut 5% of workforce

Fresh off the news that Stryker ($SYK) was cutting jobs, Accuray ($ARAY) has said it also is cutting 5% of its workforce, or 51 jobs, to reduce costs following its earlier acquisition of TomoTherapy. The company has already cut 29 positions as of Nov. 15 and will eliminate the remaining 22 jobs in phases over fiscal 2012, Reuters notes.

The company will record a charge of about $1.7 million related to the Nov. 15 job cut in the second quarter.

Back in March, Accuray agreed to buy TomoTherapy, a creator of radiation therapy solutions for cancer care, for $4.80 per share in cash and stock, or approximately $277 million.

- get more from Reuters

Suggested Articles

Sanofi will look to pull back from its three-year-old relationship with Verily and their virtual diabetes clinic, Onduo.

AstraZeneca is linking up with DeepMatter, a big data firm focused on achieving reproducibility in chemistry, to help improve its compound synthesis.

Boehringer Ingelheim tapped Healx to help identify new drug indications and leverage its AI to explore R&D options in neurological diseases.