Accuray to eliminate about 4.5% of workforce in cost saving initiative

In a regulatory filing, Accuray reported that On December 1, the company informed affected employees of a cost saving initiative designed to reduce operating costs through the elimination of approximately 4.5% of its global workforce. The company expects to substantially complete the cost saving initiative in the second quarter of fiscal 2023. The company estimates the total cost of this initiative to be approximately $2.0M, which is expected to be recorded in the second quarter of fiscal 2023.