Today we took another step in the restructure of our business to focus our attention only on profitable Novatel product lines in order to eliminate net losses and continue our progress towards profitability and positive cash flow.
Unfortunately, this involved the release and near-term release of many of our team members in the San Diego and U.S. remote locations. We wish all of them well and thank them for their contributions. All immediately impacted employees have been notified
Please join me at tomorrow’s All Hands Meeting to discuss the restructuring and how it affects our priorities and our customers.