Announcement on the ION website:
http://www.iongeo.com/News_and_Events/Press_Releases/Press_Release/?id=2084513
Anything to keep Hanson's $1.9 million per year paycheck coming in. Pathetic attempt to try to spin this in a positive light by referring to mass layoffs as a "cost reduction initiative".
To state that the company is "scalable" is a lie. Not difficult to scale it down, but try scaling it up again with good people with the reputation now out there. What the article fails to mention is that in addition to the layoffs (now 50% in the last year), many other employees are actively looking for jobs. When I started there ION prided themselves in there ability to hire the best in the industry. The best will leave or have already gone.
Message to Hanson: You can use all the buzz words you want but you have still tanked the company.