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Analogic Corp. has cut 85 staff members from its global workforce — a 6 percent reduction — and vacated a portion of its Canton-based facility, the company reported today. Analogic (Nasdaq: ALOG) expects to save $5 million, which it says will fund “strategic growth initiatives.”
The cuts will affect 58 jobs in Massachusetts, a spokesman said.
The Canton facility is home to the Copley Controls division of Analogic’s business, making motion control and power amplifiers. Analogic will move some of the Canton-based functions to its Peabody headquarters and record a charge of $1 million for the lease covering the vacated space through 2011.
Analogic, which makes signal and image processing technology for the medical and aviation industries, will also record a $2.1 million charge for severance and related costs.
Last month, Analogic founder Bernard Gordon stepped down from the company’s board of directors as part of his planned retirement, the company announced. Gordon founded Analogic in 1967.
This afternoon, Analogic’s stock was trading at around $37.40 a share.
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