SGI layoffs, leadership changes

A big workforce reduction in the midst of corporate leader resignations is taking place at Silicon Graphics Inc. The server and virtualization technology company is struggling to bring costs under control and stave off financial doom. The company's CEO is also looking to revamp product lines while at the same time hiring on a new CFO and COO--both executives resigned recently to pursue personal interests. The vendor will be laying off 12 percent of its workforce as part of the cost cutting effort.

For more on SGI's rebuilding effort:
- read this article at ITworld