Oasys Mobile cut its work force by more than one-fourth to trim expenses and reduce its losses.
The Raleigh company said Monday that it had eliminated 20 employees and contractors, leaving it with 50 workers and contractors.
The cutbacks were the result of an “extensive operational review” and will reduce personnel expenses by $250,000 per quarter, Bernard Stolar, the company’s lead director, said during a conference call with investors. Moving forward, the company will outsource some of its product development efforts so it can control costs while continuing to introduce new products, he said.
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