Cynosure reduces worldwide headcount by 17%
Cynosure Inc., a Westford company that specializes in aesthetic lasers and other aesthetic treatment systems, said it has reduced its worldwide headcount by 17 percent, which leaves the company with about 285 employees.
A cut of that size would mean about 60 employees lost their jobs company-wide. The number of Cynosure employees in Massachusetts who lost their jobs could not immediately be learned.
Cynosure's news about its headcount reduction was included in a statement about Cynosure's preliminary fourth quarter results; the company said it now expects to report a GAAP net loss for the fourth quarter in the range of $2.2 million to $2.7 million, compared with GAAP net income of $5.3 million for the same quarter a year ago.
Fourth-quarter revenues are expected at $25 million to $26 million, compared with revenues of $36.6 million in the same quarter a year ago, the company said.
The press release included a statement from Cynosure president and chief executive Michael Davin.
"The effect of the global economic crisis on the aesthetic laser industry has been swift and severe, hampering the ability of many prospective customers to obtain financing and prompting others to delay their capital equipment purchases until conditions improve," Davin said.
Cynosure said it plans to release final fourth-quarter results on Feb. 10.
To read the company's press release, please click here.
(By Chris Reidy, Globe staff)