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billion cash acquisition of Kythera by Allergan closed on October 1st. The layoffs number to more than half of the company's pre-acquisition workforce, of around 200 employees earlier this year. READ MORE>>.
Now it appears that the firm is looking to pivot its model, and looking to figure out a better customer acquisition model. Just nine months ago, the firm had over fifty open positions , and Craig had huge expansion plans. READ MORE>>.
Venture-backed startup Better.com, which offers up an online mortgage service--and which has offices in Irvine--is getting widespread heat for its approach to layoffs--a three minute Zoom call, and the CEO's messages saying those laid-off employees were "stealing" from the company having allegedly working only two hours daily.
fisker automotive cleantech electric auto maker fiskerauto strategic merger acquisitionlayoff jobs employment bankruptcy' Fisker Automotive is apparently taking bids from investors to acquire the firm, with at least one offer of a mere $20M for the company. READ MORE>>.
GoPro announced layoffs and cost-cutting as the camera and software company exits the drone business; video doorbell maker Ring has acquired light maker Mr. Beams; and the founder of dating app Grindr is stepping down following the company’s acquisition by a Hong Kong-based mobile gaming company.
maker studios disney merger acquisition jobs employment layoff content hollywood' Maker Studios employs around 380 people. Disney said it would acquire Maker in March, in a deal that could be worth north of $900M. READ MORE>>.
Aliso Viejo-based network hardware developer QLogic said late Thursday that it has completed its acquisition of the 10/40/100Gb Ethernet controller assets from Broadcom , as well as cut staff as part of a restructuring effort related to the move. The acquisition deal had been announced in February. READ MORE>>.
However, it looks like the acquisition of San Diego''s Amylin Pharmaceuticals by Bristol-Myers Squibb is turning out not-so-great for employees in the location, after news that Bristol-Myers Squibb plans to close its San Diego operations , resulting in the loss of hundreds of jobs. The move was first reported by the U-T San Diego.
fisker automotive cleantech electric auto maker fiskerauto strategic merger acquisitionlayoff jobs employment' Fisker--which has raised over $1.2 READ MORE>>.
emulex fibre channel storage host adapter hardware merger acquisition jobs layoff employment executive' The company did not say how the cost cutting effort will affect its employees. McCluney had been CEO of Emulex since 2006, only becoming Executive Chairman in July. READ MORE>>.
Weestlake Village-based data storage and high efficiency power supply maker Qualstar said Wednesday that it is looking at "strategic alternatives", including "mergers, acquisitions and divestures", and also will make "personnel adjustments" to help it reduce operating expenses.
Calabasas-based Ixia , a developer of network testing tools and software, is reporting this morning that it has implemented a "cost reduction initiative" and cut 80 positions from the firm, in what it said was primarily an elimination of duplicate resources from the company's October acquisition of Agilent's N2X product line. READ MORE>>.
Google will however feel the layoffs. Motorola Mobility with its more than 17,000 patents and the 2004 RAZR in 2004 and the Droid and RAZR MAXX successes at acquisition was not a loss to Google. The post Google Confirms Motorola Mobility 4000 Layoffs appeared first on TechZulu. Motorola annual financial report is here.
Exactly what that means--the implication is a major realignment or layoff at the company--has not yet become apparent. THQ said in a statement, released to multiple gaming outlets, that it had has not cancelled its 2014 line-up" although it has "dramatically reduced our commitment to the kids' boxed games sector." READ MORE>>.
Craig said that the shutdown came as a result of not being able to sustain a large enough market, relative ot the high cost of customer acquisition. According to an email from Craig, the company decided to close down the BettterWorks perk platform, and will not longer be active after next Thursday.
He had 2 weeks’ cash left in the bank and was facing massive layoffs or potentially bankruptcy. We plan to continue to use PR as an ongoing part of our customer acquisition strategy.&#. A good friend of mine was features on the front cover of the LA Times business section with a glowing article. Leave them wanting more.
The anonymous tipster said that an interim management team is now seeing to sell the company after a severe layoff by its investors. Marina Del Rey-based Cooking.com is looking for a buyer, and has recently laid off at least sixteen staff, according to a reader tip.
Billboard magazine reports that BUZZMEDIA has already begun layoffs at the magazine, which is expected to halt print publication with its September/October issue. BUZZMEDIA has not said what it plans to do with SPIN, but the brand undoubtedly will be directed towards bolstering its already large lineup of online, music-focused websites.
Deails on the layoffs have not been announced by the company, nor reason for the cuts. The layoffs come even as the company has reportedly prepping an IPO offering in June. The cuts were reported by both the Pacific Coast Business Times and Santa Barbara Independent. READ MORE>>.
Qualstar had a major layoff in March of 2016, along with other cost cutting moves, which looked to have most stemmed its quarterly losses. The company says it has been seeing competition in the data storage industry which has "create pressure" on maintaining market share, saying that "market headwinds" have been challenging the company.
Eight years after San Diego biotech Prometheus Laboratories was acquired by Nestlé Health Science , the diagnostic business has been sold again, this time to a little-known biotech called Precision IBD that plans to lay off approximately a quarter of Prometheus’s workforce.
The firm said it expects to save $10M annually as a result of the layoffs and elimination of other expenses. Autobytel blamed the move on a challenging economy, saying that it expects the firm will be a leaner, more focused company "right-sized" to compete in the current economic climate. READ MORE>>
in the fourth quarter for the layoffs, including severance for Riesenbach. Coats is a partner at Southgate Alternative Investments, and previously served on Autobytel's board of directors. The firm will take a charge of $4.5M
Usually leading up to the time positive cash flow is initially reached, the management team is not taking a market wage, payables are stretched, and any slowing of receivables collections would likely cause layoffs. They have achieved a level of cash generation which enables “survival” – but it is not sustainable.
Popular messaging app Kik is, indeed, “here to stay” following an acquisition by the Los Angeles-based multimedia holding company, MediaLab. In 2017, TechCrunch reported that Whisper underwent significant layoffs to stave off collapse and put the company on a path to profitability. Securities and Exchange Commission.
NastyGal--founded by Sophia Amorusa--had been facing some major headwinds over the last few years, which had resulted in Amorusa resigning as CEO and layoffs at the company. The report today, from PandoDaily, follows an earlier report from the fashion industry which said that NastyGal was seeking a buyer for the company.
Lockerz' San Diego team came from the January, 2011 acquisition of Plixi, which was formerly known as TweetPhoto, which developed software and services which allowed Twitter users to share photos.
You need to be constantly assessing mergers and acquisitions, as well as divestitures. This means identifying initiatives early, communicating openly with your team, and asking for their help on the dilemmas of production cuts and layoffs. Hone your process for due diligence and integrating these new elements.
Falcone said in a statement that the MiFi team was "one of the most innovative engineering teams in wireless technologies" before the company's "distracting acquisitions and the expansion into IoT hardware and modules". Inseego said it would immediately recommit to the Mi-Fi business. READ MORE>>.
—Merrimack Pharmaceuticals (NASDAQ: MACK ) announced layoffs of 22 percent of its staff and the resignation of CEO Robert Mulroy. Territorial Acquisitions” by Joaquin Martinez via Creative Commons. CLINICAL NEWS. At MIT, we will showcase a series of talks with Boston-area scientists, investors, and executives.
Our interview today is with Greg Martin , co-founder of LiquidStock (www.liquidstock.com), an investment fund which offers up a way for employees of private companies to exercise their stock options before an IPO or acquisition. Two, is to have the peach of mind of share ownership. We have a really elegant solution to do that.
—In the pink slip department, Cambridge-based Infinity Pharmaceuticals (NASDAQ: INFI ) announced 100 layoffs , more than half its workforce, after it terminated its partnership with AbbVie (NYSE: NYSE ) around the cancer drug duvelisib. Analysts wondered if the Tesaro news would push Medivation’s acquisition price higher.
Layoffs Reflect New Turbulence at High-Flying 3D Robotics. Jeff Engel maps out New England’s cluster of cybersecurity companies—one of the region’s strengths (and a rich source of acquisition targets). Amid Leadership Changes, NY Biotech Braces for Its Pivotal Moment. AgTech Accelerator Aims to Sway Agriculture Investment Trends.
Irvine-based Kofax , a provider of document management software and hardware, said Sunday that it is selling its hardware business to a German private equity firm, and cutting staff. Kofax said it is selling the business to Hannover Finanz, in a deal expected to be worth approximately $20M after tax.
Machinima , which had been the poster child for Southern California's multi-channel-network (MCN) boom, has laid off most of its employees and ceased its operations , according to reports. The shutdown comes after a reorganization of the digital properties of AT&T, as well as its Otter Media subsidiary.
In more continuing turmoil at Twitter, new owner Elon Musk is reportedly ending the ability to work remotely at the social media company, and is demanding employees put in "at least" 40 hours in person at the office each week. The report--from Bloomberg--said that the new rules kick in immediately.
Santa Monica-based on-demand scooter company Bird has shut down its operations in the Middle East, according to reports, shutting down Circ, which it had acquired in January, and laid off all of its employees. Bird had only just acquired Circ in January, shortly before the world was hobbled by the pandemic.
Los Angeles-based on-demand, dog walking service Wag has bought back its stake from Softbank, according to CNBC. The sale comes less than two years after SoftBank invested $300M in Wag , via the SoftBank Vision Fund.
Los Angeles-based on-demand, dog walking service Wag has bought back its stake from Softbank, and is now seeking a sale, according to CNBC. The sale comes less than two years after SoftBank invested $300M in Wag , via the SoftBank Vision Fund.
San Diego-based audio technology developer Turtle Beach said Monday that it is restructuring its HyperSound business, in a bid to lower the operating costs of that business. As part of that restructuring, the company said that investment banker Piper Jaffray is contiuing "exploration of strategic options"for that business.
Santa Monica-based Demand Media is continuing to see a steep drop in revenues from its content and media efforts, reporting Thursday afternoon that it had $15.9M in revenues from its Content & Media segments, compared with $33.6M in the same quarter in 2014.
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