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Stock Market & Financial Investment News

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January 23, 2013
16:25 EDTSYMMSymmetricom announces workforce reduction of approximately 20 positions
Symmetricom announced a restructuring action today to reduce the size of its workforce by approximately 20 positions. The reductions will begin in January and are expected to be complete by August. In conjunction with the headcount reduction, the company will further reduce the size of its facility presence in Santa Rosa, CA. Symmetricom expects to incur restructuring charges in the range of $1.5M-$1.8M in connection with the plan. Upon completion, Symmetricom expects these restructuring actions to reduce annual costs by approximately $4.0M.
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