Forrester to lay off 5 percent of workforce
Research firm cites economy in cutting 50 jobs worldwide. The research department headcount will still be greater than it was a year ago though.
Forrester Research is cutting its workforce by about 5 percent, or 50 jobs, worldwide, the company said on Monday.
The research firm expects to incur pre-tax expenses of about $2.5 million to $3 million in the first quarter related mostly to severance and benefits-related costs.
"We have made this difficult decision in response to challenging global economic conditions," George F. Colony, Forrester's chief executive, said in a statement. "Forrester has lived through tough economic times before. We are confident that with our role-based strategy and our current offerings, we are well-poised to successfully deliver what our clients need today and in the long term."
The layoffs will be across functions and geographies, but headcount in the research department will still be 14 percent above what it was a year ago even after the reduction, according to the company.
Forrester is scheduled to report its quarterly and full-year 2008 financial results on Wednesday.