A Medical Device Daily
TomoTherapy (Madison, Wisconsin) said it has cut its workforce by about 12% through a combination of layoffs and the elimination of open positions.
The company estimates it will generate annual savings of about $5.4 million beginning in 2009. During 4Q08, it will incur a one-time charge of roughly $1.8 million related to severance costs.
"This action, while difficult, was a necessary response to the slowing growth TomoTherapy is experiencing as a result of the challenging economic conditions," said CEO Fred Robertson. "It is essential in the current environment to effectively manage costs while continuing to provide outstanding service and support to our global customer base. We also remain committed to extending the clinical advantages of our leading TomoTherapy Hi Art system, which provides superior quality of care to cancer patients around the world."
As of Sept. 30, TomoTherapy had 721 employees.
TomoTherapy has developed the Hi Art treatment system, an advanced radiation therapy system for the treatment of a wide variety of cancers. According to the company, the system combines integrated CT imaging with conformal radiation therapy to deliver sophisticated radiation treatments with speed and precision while reducing radiation exposure to surrounding healthy tissue.