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Progress Software Corp. (Nasdaq: PRGS) is cutting its global workforce by 12 to 14 percent, the company announced in a press release late yesterday.
Before the cuts, Progress employed 1,875 globally, with 551 employees in Massachusetts, according to their listing in Mass High Tech’s New England Technology Directory. The press release did not specify how many of the company’s cuts would hit Bay State employees.
The move will also consolidate offices in unspecified locations globally, the company stated. According to Progress, the moves are intended to make the company “more customer and solutions driven.” The move will also shift emphasis to Progress’ “more visible” brands, the company stated.
Bedford-based Progress makes application infrastructure middleware for large enterprises.
In March, the Progress board voted to replace co-founder Joseph Alsop as president and CEO, promoting COO Richard Reidy to the corner office. Alsop, a Mass High Tech All-Star in 2004, co-founded Progress in 1981. Reidy has been with the company since 1985.
Last September, Progress completed a $162 million buyout of Ireland-based IONA (Nasdaq: IONA), a supplier of software integration technology.
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