SMART Technologies Inc. (SMT: Quote,SMA.TO: Quote) announced a corporate restructuring that will sharpen focus on each of its target markets in Education and Enterprise while simultaneously streamlining its corporate support functions.
The restructuring will realign the organization into two business units. SMART will reduce its workforce by approximately 25% during the third and fourth quarters.
The estimated financial impact of the restructuring is an annualized pre-tax cost savings of approximately $40 million once fully implemented by the fiscal fourth quarter ending March 31, 2013.
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by RTT Staff Writer
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