Sierra Wireless announced yesterday that it is establishing three new business units - M2M Embedded Solutions, Mobile Computing, and Solutions & Services - to sharpen the company's focus on key markets and accelerate profit growth. Here is what Jason Cohenour, Sierra Wireless' president and CEO had to say about the company's announcement:
“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. This business unit structure allows us to rapidly address different customer and product requirements in mobile computing, embedded M2M and M2M solution, and positions us to drive strong, sustained growth and improved profitability.”
Way down at the bottom of the release, Sierra Wireless mentioned that as part of the new business unit structure, the company has eliminated approximately 60 full-time positions (6 per cent of Sierra Wireless' global workforce) in the hopes of reducing operating expenses by roughly $1 million per quarter. The bulk of the layoffs are expected to be completed in the fourth quarter of 2010, but there was no indication of which corporate offices will be affected by the reduction.
Sierra Wireless also announced several executive changes as a result of the new organizational structure. For complete details, have a look at Sierra Wireless' release.