ID Systems Inc. Message Board

  • dbtunr dbtunr Mar 26, 2010 9:07 AM Flag

    30% layoffs

    here come the writeoffs, charges, and other excuses. Doesn't sound like things have started off very good if almost 1/3 the company is being let go. What a bunch of losers

    Item 8.01.

    Other Events.

    On March 19, 2010, the Registrant notified its employees that it was implementing a reduction in force. These staff consolidations will reduce the Registrant’s total employee count by more than 30%, or from 121 to 83 employees, by July 31, 2010. Certain of the employee terminations were effective immediately, and others will become effective on or prior to July 31, 2010. The Registrant expects the reduction in force and other cost management initiatives to reduce its consolidated annual operating expenses by an estimated $8 million.

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