June 29, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — LoJack Corp. (NASDAQ: LOJN) said that it has restructured the company's operations and reduced staffing to maintain the company's position in the marketplace. According to LoJack, the initiatives principally affect the company's corporate headquarters and field sales organization. The company said it would take a roughly $1.8 million charge related to these cost reductions, to be reflected in the second quarter of this year.

The company also said the changes would provide a benefit of around $3.5 million over the remainder of 2010, with an annualized benefit of around $6.8 million beginning in 2011.

LoJack said that the work force reductions are expected to be completed in the second quarter of 2010.

Richard T. Riley, LoJack’s CEO said, "We remain focused on our core domestic auto and international licensee businesses while continuing to build our Italian subsidiary and the LoJack SafetyNet business, which serves those with autism and Alzheimer's.”

Massachusetts-based LoJack produces systems used in finding and recovering a range of mobile assets including cars, construction equipment and motorcycles.

LoJack's Stolen Vehicle Recovery System operates in 28 states and the District of Columbia, and in more than 30 countries throughout North America, South America, Europe, Africa and Asia.

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