Ibiquity Cuts More Employees

Ibiquity Cuts More Employees
Author:
Publish date:

As we reported earlier, sources told RW Online they expected more employees to leave Ibiquity after three top managers exited recently. As of last Friday, sources say, a total of 32 employees have left the technology developer, leaving a total of roughly 80 employees. The cuts were said to be spread evenly between Ibiquity's Columbia, Md. and Warren, N.J. headquarters, including many of the PAC team members, such as Deepen Sinha, director of audio development (and said to be PAC team leader)and O'Connell (Ben) Benjamin, who, as senior vice president and co-chief operating officer, headed up the Warren office, which was formerly Lucent Digital Radio's headquarters. Also said to be not with the company anymore is Thom Linden, vice president, data development and architecture.
Sources estimated the cost trimming allows Ibiquity to make its cash take the company through the end of the year, and predicted the company would continue to try to raise more funds through its investors and also seek new sources of capital.
Ibiquity declined comment on the personnel changes.

Related