Creative Technology has carried out a retrenchment exercise that will slash about 300 jobs worldwide, with majority of the cuts from Europe and the US. In a short two-paragraph statement to the Singapore Exchange yesterday, Creative said that it will incur restructuring charges of about US$10 million for its fiscal third quarter ending March 31, 2009. The restructuring charges 'are related to severance payments and costs associated with headcount reductions, primarily in the company's global field organisations and facilities costs from consolidation of certain international offices'. The MP3 player and PC soundcard maker did not say how much money its restructuring will help save. Cost-cutting measures have been earlier hinted at by the company. In its Q2 earnings announcement in January, president and chief operating officer Craig McHugh said that Creative was 'evaluating' the structure of its field organisations to reduce operating expenses. This is the second headcount reduction at Creative reported in recent months.