IDT also announced the consolidation of the company's Northern California operations, including its Salinas unit, into its new San Jose-based corporate headquarters. In addition, the company is centralizing and streamlining a number of manufacturing support, sales, IT and R&D positions.

Overall, this reduction in force will result in the elimination of approximately 240 positions in North America, with roughly 50 percent implemented as of Wednesday, while the balance will be transitioned over the next few quarters. The combined effects of these measures are projected to save approximately $5-to-$6 million per quarter.

"While the actions we are taking are quite painful, we need to ensure that our resources are dedicated to those areas that will best drive a healthy future for our company," said Greg Lang, president and CEO of IDT, in a statement.

By: DocMemory
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