Wireless Ronin Cuts Jobs
In September we wrote, quite cleverly we thought ‘They Became Ronin – Masterless Samurai‘ but perhaps we should have written ‘They Became Jobless’ – actually we appreciate that this is no laughing matter, most definitely for those employees affected.
To be fair we are surprised that it has taken Stephen Birke, a Wireless Ronin (Nasdaq: RNIN) board member, who has been serving as interim CEO since Jeffrey Mack resigned in September THAT long to wield the axe – or perhaps that should be a sword as we are talking about Ronin here, Ed
The announcement made yesterday after the market closed said that they would be laying off 35 workers, approximately 22 percent of its workforce, as part of an effort to cut costs.
Ultimately we believe that this could save the company about USD 1 million in expenses BUT the big question is of course will it be enough to save the company?