Accuray is laying off approximately 5.9% of its global workforce in a cost-savings initiative, according to a filing with the Securities and Exchange Commission.
The Madison, Wisconsin–based radiation oncology developer reported in September that in accordance with its margin expansion plan, it would commit to a cost-savings initiative designed to reduce operating costs through the reduction of its global workforce.
As of June 30, Accuray had 1,024 employees, according to its most recent annual report. That means the layoff could affect roughly 60 employees.
Accuray informed affected employees of the cost-saving initiative yesterday.
The initiative is estimated to cost about $2.5 million and will be recorded in the second quarter of fiscal year 2024. The company expects to complete the cost-savings initiative in the second quarter of fiscal year 2024 as well.
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