Akamai Technologies announced Wednesday that it's cutting 7 percent of its workforce, as the Web content delivery company pares back its costs.
Cambridge, Mass.-based Akamai expects to cut 110 positions in the fourth quarter, a move that is anticipated to result in a $4 million restructuring charge.
"We have not changed our business outlook," J.D. Sherman, Akamai CEO, said in a statement. "However, we want to ensure that we can keep investing for growth even in the current economic climate."
The Web content delivery company also expects to lose approximately $2.5 million in income from subleasing some of its facilities.