Aether to reduce staff
Aether Systems announced it is cutting 225 jobs--25% of its work force--because of slow adoption rates for new technologies and a weak economy. The work-force reduction is an attempt to trim operating expenses and achieve profitability.
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The Owings Mills, Md.-based software provider for wireless data technology will take a restructuring charge of about $11 million in the first quarter because of the job cuts, as well as facility consolidation, streamlining its European venture and other work-related expense cuts.
Aether plans on reducing operating expenses to the mid- to upper $20 million range by the fourth quarter.
--Amalia D. Parthenios, staff writer
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© 2012 Penton Media Inc.
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