Burton Guns For Creo's Michelson
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That figure includes the previously announced elimination of 60 positions. The move reduces expenses by an annualized rate of approximately $24 million by the start of the fiscal third quarter of 2005 and is expected to reduce operating expenses and cost of goods sold equally.
The cost-cutting action is designed to streamline operations, strengthen Creo's competitive cost position and provide a strong platform for earnings growth, according to Michelson.
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