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Cray to cut 8 percent of employees

Cray plans to cut 65 jobs, eliminating 8 percent of its staff by March 31, the supercomputer specialist disclosed in a regulatory filing.

Cray plans to cut 65 jobs, eliminating 8 percent of its staff by March 31, the supercomputer specialist disclosed in a regulatory filing after it announced the plan to employees on Dec. 12. The cuts will chiefly affect international sales, service and engineering personnel in Cray's offices in Burnaby, Canada--the former headquarters of a company called OctigaBay that Cray acquired in 2004--with the rest in Europe, Cray said. Restructuring costs will range between $500,000 and $3 million, depending on how many employees take a voluntary severance package, but cost savings will be about $7 million per year, Cray said.

The restructuring will help streamline the company's already announced plan to merge its current XD1 products developed by OctigaBay with the larger XT3 systems, the basis for the Red Storm supercomputer at Sandia National Laboratories. The XD1 and XT3 use Advanced Micro Devices' Opteron processor.