Irvine Sensors Reduces Work Force
COSTA MESA, Calif., Feb. 8, 2011 — Vision systems company Irvine Sensors Corp. recently released more information on the operational streamlining discussed by CEO Bill Joll in a conference call on Jan. 27, 2011.
Joll’s outline regarding the implementation of organizational realignments has been completed and is expected by the company to produce initial annualized expense reductions in excess of $1.4 million.
The reduction is anticipated based on a 19 percent reduction in the work force, consisting primarily of staff not fully utilized in support of the current product and revenue focus. The staff-related savings are anticipated to be temporary, however, as it plans to expand its product-specific marketing staff during the current fiscal year.
“We expect that concentrating our direct efforts on our product sales and product-oriented development programs will enable us to shift our operating expenses toward development plus sales and marketing as we move toward being a product-driven company,” Joll said.
For more information, visit: www.irvine-sensors.com