Ranked among the top five fastest-growing companies last summer by Profit magazine, Calgary-based wireless vendor Wi-LAN Inc. announced last month that it is cutting 55 per cent of its staff in order to improve the company’s cash flow. The change is being made to conserve cash – approximately $500,000 a month – and to sustain its sales growth projections in the fixed wireless access market, according to Wi-LAN. The firm is reducing its staff to approximately 55 people, excluding Til-Tek, UC Wireless, and DTS. With this reduction in staff and planned reductions in other operating expenditures, management expects to maintain a minimum cash balance of $3 million over the next 12 months.
We'd love to hear your opinion about this or any other story you read in our publication. Click this link to send me a note →
Jim Love, Chief Content Officer, IT World Canada
Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.