Radiant Communications laying off unspecified number as part of reorganization
(Canadian Press DataFile Via Acquire Media NewsEdge) VANCOUVER _ Radiant Communications Corp. (TSXV:RCN) says an unspecified number of layoffs are being made as part of a reallocation of resources.
The company said the layoffs will result in a fourth-quarter charge of approximately $450,000 to cover severance and one-time reorganization costs.
The layoffs are part of changes Radiant is making to focus its sales and marketing resources on its AlwaysThere Cloud Computing Services and other new products, as well as a new marketing campaign aimed at mid-market Canadian firms.
Vancouver-based Radiant employs 90 people in Toronto, Montreal, Calgary, Edmonton and Vancouver. It provides broadband solutions to small- and mid-sized Canadian businesses.
Shares in the company were unchanged at $1 in Monday trading on the TSX Venture Exchange.
(c) 2010 The Canadian Press
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