TweakTown
Tech content trusted by users in North America and around the world
5,915 Reviews & Articles | 38,110 News Posts

OCZ begins to sink, cutting workforce by 28%, will discontinue 150 product variations

OCZ looks to be in big trouble, is getting rid of 28% of their employees, will also discontinue 150

| Business, Financial & Legal News | Posted: Nov 1, 2012 12:47 am

Who thought this time last year that SSD maker OCZ would be in this much trouble? The company have announced their reducing a large number of its staff, with as much as 28% of their non-production staff being out of a job, while workers at the company's Taiwan production facility getting cut down by 32%. The company has said:

 

TweakTown image news/2/6/26503_05_ocz_begins_to_sink_cutting_workforce_by_28_will_discontinue_150_product_variations.png

 

We are undergoing a transition phase in the Company's evolution in which we are refocusing our efforts on products and strategies that will benefit both OCZ and our stakeholders over the long term. We have already taken aggressive steps to address some short-term tactical challenges and have begun streamlining the organization to help ensure that OCZ will be in the best position moving forward to address the fast growing consumer and enterprise SSD markets.

 

They aren't just stopping there, either. OCZ plans to discontinue around 150 product variations, too. OCZ adds:

 

This streamlines OCZ's product offerings to address the mainstream and higher-end consumer products, as well as enterprise and OEM solutions. The company has also evaluated its inventory and is in the process of making the necessary adjustments, including monetizing some inventory to better align its product offerings and to free-up cash for the business.

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

TweakTown Web Poll

Question: Facebook's acquisition of Oculus VR will...

Improve Oculus Rift Development

Hamper Oculus Rift Development

Completely destroy Oculus Rift Development

Let's wait and see, I'm not sure

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases