Crossroads Systems Inc. , a global provider of connectivity for storage networking solutions, today announced a workforce reduction.
In order to reduce its operating expenses, the company has eliminated approximately 10 percent of its workforce, or approximately 20 employees, through realignment and consolidation of its current organization. The company says no software or hardware engineering positions were affected in its core router business unit.
Crossroads’ President and Chief Operating Officer Larry Sanders said, “We believe that this action is a prudent cost reduction measure taken in response to the current uncertain economic and market environments. It was imperative that we lower our break-even point in order to reinforce our commitment to achieving profitability.”