Tuesday, May 24, 2022

Briefs

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.

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