Jan 20

Written by: Russ Henke
1/20/2009 7:00 AM 

Note: This blog entry was first posted on January 16, 2009.

Further to the impact of the US economic collapse previously discussed in this blog space, on January 15, 2009 Autodesk, Inc. announced a restructuring plan to reduce its annual operating expenses. The company anticipates the restructuring will result in annual pre-tax cost savings of approximately $130 million annually starting in its fiscal year 2010.

As part of its restructuring plan, Autodesk plans to reduce its staff by approximately 750 employees, representing approximately 10% of the company's global workforce. The company also plans to consolidate certain facilities. The actions are in addition to the ongoing cost reduction initiatives previously announced, which included a hiring freeze, business travel restrictions, and other reductions in its operating expenses.

As a result of this restructuring, the company anticipates taking a pre-tax charge in the range of $65 million to $75 million.

For more info, copy and paste the following URL into your browser:

http://pressreleases.autodesk.com/index.php?s=press_releases&item=516%3C%2Ftd%3E