Wednesday, July 30, 2008

Veraz Announces Restructuring

Veraz Networks announced a restructuring that involves reducing its overall headcount and streamlining operations. The company has reduced its workforce by approximately 160 employees and contractors and consolidated certain operations across all organizations, bringing worldwide headcount to approximately 300. The company said these initiatives, which will significantly lower Veraz's break-even point, will result in a third quarter pre-tax restructuring charge, excluding stock-based compensation, of approximately $1.2 million to $1.5 million consisting primarily of severance costs, equipment write-downs and facilities consolidation.