Charles River Associates Cutting 47 Jobs

Boston-based Charles River Associates expects to cut 47 jobs as part of a company-wide restructuring.

Charles River Associates provides management and financial consulting services. The company performed well below expectations last quarter when revenue fell from $65.8 million to $58.8 million, according to a press release. The company said the job cuts are coming through the closure of its Houston office.

“Our first-quarter performance was well below our expectations,” said President and CEO Paul Maleh. “Clients remained cautious with their spending and this affected most areas of our business.”

Charles River Associates specializes in litigation, regulatory and financial consulting and management consulting. It was founded in 1965 and has offices throughout North America, Europe, the Middle East and Asia.