Sierra Wireless to Cut 60 Jobs in Reorganization
Canadian wireless modem maker Sierra Wireless said Thursday it is cutting 60 jobs, about 6 percent of its work force, saving about $1 million per quarter.
The cuts are expected to be completed in the fourth quarter.
The company expects to take a 4.5 million charge in the third quarter for severance and other costs. The savings will be partially offset next year by investments to support new growth.
The company announced a new organizational structure, which establishes three business units — M2M Embedded Solutions, Mobile Computing, and Solutions & Services.
Each unit will have dedicated sales, marketing, and research and development personnel, the company said in a statement.
"With the integration of our M2M businesses complete, the time is right to launch a new organization that strengthens customer focus and enhances responsiveness in key markets," CEO Jason Cohenour said.
Andrew Berman, senior vice president and general manager of the AirLink business unit, will leave the company as a result of the reorganization.
The company also announced a realignment of executives. New assignments are:
• Dan Schieler, senior vice president of worldwide sales to senior vice president and general manager of the mobile computing business unit.
• Jim Kirkpatrick, chief technology officer to senior vice president of engineering for mobile computing.
• Didier Dutronc, senior vice president of global marketing to senior vice president and general manager of the M2M embedded solutions business unit.
• Pierre Teyssier continues as senior vice president of engineering and joins the M2M embedded solutions business unit, reporting to Dutronc.
• Emmanuel Walckenaer continues as senior vice president and general manager of the solutions & services business unit, with expanded responsibility for AirLink intelligent gateways and routers.
• Philippe Guillemette, senior vice president of advanced technology to chief technology officer.
Shares fell 18 cents, or 1.8 percent, to close Thursday at $9.93.