Lionbridge Lays Off 325 Workers
Lionbridge Technologies (NASDAQ:LIOX), a Waltham, MA-based provider of software for language translation and other services, will lay off 325 employees or 8 percent of its workforce and consolidate several global operations as part of a restructuring plan, according to a regulatory filing. The plan is expected to save the company $6 million to $9 million in 2009 and result in later annual cost savings of $18 million to $20 million. Wade wrote last year how Lionbridge’s leadership position in the translation software business hasn’t translated into profits for the company. The job cuts at Lionbridge have been added to our Boston Tech Layoff Tracker.