Ionics Consolidates Operations and Cuts Jobs
Watertown, MA 9/3/03–Ionics has announced a restructuring program in a move to save $15 million annually and improve margins. The company plans to realign its management structure, consolidate certain operations and eliminate approximately 200 positions, or 10% of its workforce. A conference call is slated to occur later this month providing more details on its restructuring plans. However, even without the details, analysts were quick to announce upgrades.