VANCOUVER, Jan. 29, 2009 /PRNewswire-FirstCall/ - Sierra Wireless, Inc. (NASDAQ: SWIR, TSX: SW) announced today that it is implementing an expense reduction program. http://www.fiercewireless.com/press-releases/sierra-wireless-announces-expense-reduction-program-0 The expense reduction program is expected to reduce labor costs by approximately $5.5 million on an annualized run rate basis. The program includes the elimination of approximately 56 positions, representing 10% of the company's workforce. The positions eliminated will impact all levels and functions of the company. These actions are expected to be largely completed during the first quarter of 2009. The company expects to incur a pre-tax charge of approximately $1.3 million in the first quarter for severance and other costs related to this program.
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