More local layoffs in high tech
Posted Aug 4, 2011 04:04:32 PM.
This article is more than 5 years old.
There have been more layoffs in Waterloo’s high tech sector.
570 News has learned that a number of employees have been let go at Equitrac, a print management and software developer with offices on Phillip Street. The company’s vice-president of Corporate Communications has confirmed the layoffs but would not provide a specific number of people affected, citing company policy. Richard Mack did say the layoffs totalled “less than 20 per cent” of the workers on Phillip Street, a building that is home to about 100 employees.
Last week, Waterloo-based BlackBerry-maker Research in Motion announced it was cutting 2000 jobs, or 11% of its workforce. Yesterday, RIM unveiled a portfolio of five new smartphones that will operate on the new BlackBerry 7 operating system in hopes of turning around its fortunes.
Mack remains optimistic for the future of Equitrac, which was recently acquired by Massachusetts-based Nuance. Mack says Nuance has been “very impressed” with the Waterloo office, adding that redundancies are common when companies are acquired.
The layoffs will happen over the next six months and Mack says Nuance is offering outplacement services to affected employees.
No further layoffs are anticipated.
