PTC Updates Q2 Revenue Guidance; Announces Job Cuts - Quick Facts

(RTTNews) - PTC (PTC, PMTC) announced the company expects revenue for the second quarter to be slightly above the mid-point of the $305 million to $320 million guidance range. The company said its second-quarter License & Subscription Solutions (L&SS) revenue is expected to be slightly below the mid-point of the $80 million to $95 million guidance range.

PTC announced the company is realigning its global workforce. The company's management expects approximately 7% of worldwide positions (approximately 450) to be repurposed or eliminated, and to consolidate select facilities.