Optelecom-NKF Cuts 23 Jobs
GERMANTOWN, Md., Sept. 16, 2009 -- Optelecom-NKF Inc., a supplier of video over IP (VoIP) and video-over-fiber products, announced Wednesday it will cut 23 jobs in the US and Europe as the result of a strategic review of its operations.
"Earlier this year the impact of the recession prompted us to implement a number of measures to reduce costs without directly impacting employees," said Dave Patterson, Optelecom-NKF's president and CEO. "However, it's apparent that we need to identify additional cost savings as the economic downturn continues to affect order flow."
The company said the reductions will cost it about $127,000 during the third quarter of 2009 but are expected to save approximately $1.6 million in 2010. The reductions include employees, contract employees and open positions.
"We're staying on top of the business and we're prepared to respond quickly to changing market conditions," Patterson said. "We believe this cost-saving action, the continued rollout of new award winning technologies, and the refinement of our sales structure positions us for the future."
For more information, visit: www.optelecom-nkf.com
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