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Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

March 22, 2011 at 3:31 PM

Cray lays off 52 in restructuring move

Seattle supercomputer maker Cray is cutting 52 jobs, but the company won’t say exactly where the cuts are taking place.

At the end of 2010, Cray employed 885 at its Seattle headquarters and facilities in Minnesota and Wisconsin.

Spokesman Nick Davis said Cray is still growing and hiring people, but in different areas, such as software development. It couldn’t afford to hire the new people without trimming some existing workers.

“We couldn’t do the hiring we need to do on top of our current cost structure,” he said.

Cray expects to end 2011 with “approximatetely the same number of employees that we employed at the beginning of 2011,” it said in an SEC filing today.

The company expects the restructuring costs — including severance pay — will cost up to $2 million, which will be reflected in earnings for the quarter ending March 31.

Stock in the company was up 0.45 percent — or 2.8 cents, at $6.36 — in extended trading.

Comments | Topics: Cray

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