Akamai to cut 7 percent of staff

Cambridge, Mass.-based Akamai expects to cut 110 positions in the fourth quarter, a move that is anticipated to result in a $4 million restructuring charge.

"We have not changed our business outlook," J.D. Sherman, Akamai CEO, said in a statement. "However, we want to ensure that we can keep investing for growth even in the current economic climate."

The company didn't break out the number of job cuts by location and declined to say how many would be shed at its headquarters, where it employs about 650 workers in two Kendall Square buildings. Overall, it employed more than 1,500 worldwide at the end of September.