Research firm Forrester to cut 126 jobs

Research firm Forrester Research said it's slashing 126 jobs, or about 22 per cent of its workforce worldwide.

The company attributed the reduction in workforce to the current economic downturn as well the continued weakness in the technology sector.

"This move continues our broad effort to prepare the company for the future," said George Colony, Forrester's chairman and CEO.

Forrester said it expects to record a one-time charge of $US4 million to $6 million related to the job reductions and the company's reorganisation. The job cuts are expected to save the company between $18 million and $20 million per year.

The cuts are part of Forrester's efforts to reduce costs and make the company more efficient. The firm realigned its sales force in July and in October reorganised the company into four operating groups.

Forrester also reiterated its fourth-quarter guidance, saying it expects revenue of between $33 and $35 million and diluted earnings per share of about 20 cents to 22 cents.

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