Wednesday, March 23, 2011

Cray Chops Employees

Seattle-based supercomputer maker Cray said Tuesday that it has cut approximately 52 employees, as part of a workforce restructuring. According to an SEC filing by the firm, the cuts were needed to "rebalance headcount" into areas of future need. Cray said it would take a restructuring charge of up to $2M for severance pay and related expenditures from the cuts. Cray said it expects to boost hiring in such areas as software development, custom engineering, and customer service, which will result in the firm having approximately the same number of employees at the beginning and end of 2011.