SAN FRANCISCOTest equipment vendor Ixia plans to cut roughly 80 jobs as part of a restructuring initiative following its acquisitions late last year of Catapult Communications Corp. and of Agilent Technologies Inc.'s N2X data network testing product line.
Ixia (Calabasas, Calif.) said the layoffsmainly the elimination of duplicate resources that arose from the N2X acquisition are expected to save the company $11 million per year. The company will record a pre-tax charge for severance and other related costs of roughly $3 million to $4 million, it said.
The job cuts are expected to be completed by the end of June. The cuts will trim by nearly 7 percent Ixia's payroll, which currently numbers about 1,200, according to a company spokesperson. The company trimmed 10 percent from its payroll last June.
Ixia said it expects fourth quarter 2009 revenue to be between $54 million and $56 million, an increase of about 16 percent compared to the third quarter and about 32 percent compared to the fourth quarter of 2008. The company had previously forecast fourth quarter sales of between $50 million and $54 million.