PTC revealed an $18 million restructuring charge on Wednesday that the company said will allow it to invest more in the industrial Internet of Things, augmented reality and other growth opportunities.
The Needham, Mass.-based industrial software company said the $18 million charge set for fiscal year 2019, which began in October, is the result of a workforce realignment plan and “consists principally of termination benefits.” However, the company said the restructuring would not result in significant cost savings because it is a “realignment of resources.”
“With the growth opportunity in front of us in the Industrial Internet of Things and Augmented Reality, other strategic initiatives weve undertaken, and our continued commitment to ope…
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