Forrester Research, Inc. (Nasdaq: FORR) today announced a reduction in force of approximately 50 jobs, or an estimated five percent of its workforce, across various functions and geographies worldwide. This positions the company to compete better in the current economic climate. The company anticipates that it will incur pre-tax expenses of approximately $2.5 to $3 million dollars in the first quarter of 2009, related principally to cash severance and related benefits costs. The company also is evaluating associated facilities-related costs.
“We are grateful for the contributions of all of our employees over the past year,” said George F. Colony, Forrester’s chairman of the board and chief executive officer. “We have made this difficult decision in response to challenging global economic conditions. Forrester has lived through tough economic times before. We are confident that with our role-based strategy and our current offerings, we are well-poised to successfully deliver what our clients need today and in the long term.”
Clients will continue to receive uninterrupted service from Forrester’s role-based analysts and research teams. Forrester’s research population is the highest it has been in the company’s 25-year history. After the workforce reduction, Forrester’s research headcount is 14 percent above what it was in February 2008.
Forrester expects to release its fourth-quarter and full-year 2008 financial results and hold its earnings call on Wednesday, February 11, 2009.