iRobot (IRBT) Looks to Cut 13% of Workforce in Cost Savings Plan
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iRobot (Nasdaq: IRBT) shares are getting hit following third-quarter results issued Tuesday night.
Today, the Boston Globe reports that the maker of such great items as the Roomba home cleaner and 710 Warrior nightmare defender [pictured], is cutting about 13 percent of its workforce, or 80 jobs.
CEO Colin Angle hinted at the move in its quarterly release, stating, "to right-size the business we have restructured D&S and taken costs out. These moves will result in a fourth quarter 2012 restructuring charge of $4-5 million." That's about $60,000 for each worker, which seems about right. Post-restructuring headcount should be about 510 or so.
Shares are off 19 percent on the session.
Today, the Boston Globe reports that the maker of such great items as the Roomba home cleaner and 710 Warrior nightmare defender [pictured], is cutting about 13 percent of its workforce, or 80 jobs.
CEO Colin Angle hinted at the move in its quarterly release, stating, "to right-size the business we have restructured D&S and taken costs out. These moves will result in a fourth quarter 2012 restructuring charge of $4-5 million." That's about $60,000 for each worker, which seems about right. Post-restructuring headcount should be about 510 or so.
Shares are off 19 percent on the session.
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