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Akamai, the content delivery network has announced that it would be laying off 110 employees or about 7% of its workforce, according to an SEC Filing. The company expects to incur approximately $6.0 million in cash expenses due to these changes as a result of severance and similar personnel-related expenses:

As a result of these cost-cutting measures, the Company expects to incur aggregate restructuring charges and other costs of approximately $4.0 million in the fourth quarter of 2008. These anticipated charges consist of approximately $3.8 million for severance and similar personnel-related expenses and approximately $0.2 million in other costs. These costs are expected to be partially offset by a net reduction in non-cash stock-based compensation of $0.8 million, reflecting a modification to certain stock-based awards previously granted to the affected employees. Additionally, the Company expects to recognize a loss on sublease income of approximately $2.5 million related to certain leased facilities. The Company expects to incur total cash expenditures of approximately $6.0 million in connection with these cost-reduction measures.