Story by Cromwell Schubarth, Biz Journals
Video conferencing equipment maker Polycom Inc., under pressure from activist investor Elliott Management Corp., said Thursday it will cut its work force by 11 percent.
That would mean slashing about 388 jobs, based on the 3,525 employees the San Jose-based company said it has in its most recent annual report.
The company also said it plans to reduce or eliminate some leased facilities, including closing an office in Israel to shift work to lower-cost locations.
