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I'm usually wary of a press release which announces a new cost-cutting initiative. A well-run company should always be looking to cut costs. There's nothing new about it, it just is. But the truth is, these announcements work, meaning it moves the stocks. This morning, it's Fair Isaac's (FIC) turn:

Fair Isaac Corp., which develops credit scoring systems, said Thursday it will cut 200 jobs as part of its restructuring plan, reducing annual costs by $24 million.

The layoffs will affect workers in the company's product management, delivery and development units. The cuts will mean one-time severance and related costs of $5.7 million, to be recorded this quarter, Fair Isaac said.

The restructuring also calls for a new chief marketing officer role and the transition of some engineering, quality assurance and maintenance work to Bangalore, India.

The stock is up about 3% this morning.

Posted by edelfenbein at June 16, 2006 10:00 AM