JetForm Corp, the Ottawa, Canada-based workflow software and services company, has announced that it will take an $8m charge in its fourth quarter stemming from ongoing restructuring activities. The company said last month that it would be consolidating operations and cutting jobs, and has since has merged its sales and services businesses into a single operating unit. Now it says it will face a charge as it begins an unspecified number of staff reductions, and the consolidation of redundant facilities, among other things.
JetForm says that the research and development and customer support groups will be only minimally impacted by the reductions, while the sales, marketing and administrative headcount has been reduced by about 24%. In addition to the $8m to cover those activities, the company expects fourth-quarter charges to write down the carrying value of intangible and fixed assets of about $20m. The asset write down relates almost entirely to goodwill and other intangible assets from the acquisitions of Proactive Systems Ltd and Eclipse Corp.
