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PAR Technology slashes workforce by 4%

PAR Technology Corp. cut its workforce by 4% as part of the transformation of its restaurant or retail segments to a software-driven solutions company from a hardware and systems integrator.

The company expects to incur total pretax cash restructuring charges relating to severance costs of roughly $413,000 that will be expensed in the fourth quarter. The company expects to make cash payments in the fourth quarter through the first quarter of 2018.