SGI (SGI +0.3%), clobbered last month thanks to an earnings miss blamed on weak Euro sales, says...

|By:, SA News Editor

SGI (SGI +0.3%), clobbered last month thanks to an earnings miss blamed on weak Euro sales, says it will slash its European workforce by ~25%, and "close certain legal entities and offices" on the continent in the process. The server maker expects to incur one-time cash charges of $14M-$17M related to the restructuring, and annual cost savings of roughly $7.5M. (PR)