CALGARY- A Calgary-based company has announced a major restructuring that will see 25 per cent of their employees laid off.
SMART Technologies, which is known for its interactive whiteboards, said on Tuesday that it plans to realign the company into two business units to improve customer focus.
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The layoffs are expected to save the company about $40 million, and will begin in the third and fourth fiscal quarters-ending in March.
Back in July 2010, Smart Technologies’ IPO was listed at about $17 per share. On Tuesday, shares were trading at $1.34.
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