Ixia Cuts 10 Percent Of Staff

Calabasas-based Ixia reported this morning that the firm is cutting its staff by 75 to 80 positions, or 9 to 10 percent of its work force, as part of a restructuring initiative. According to Ixia, the moves will save the company approximately $6M. The firm said that the moves came as a result of the current economic downturn, with CEO Atul Bhatnagar saying that the economy has "negative impacted" the firm's revenue and profitability. Ixia said the cuts would be complete by June 30th, except for certain outside contractors who will be retained through July. Ixia is a developer of networking test software and hardware.