OWINGS MILLS, Maryland, United States—According to sources, Aether Systems will cut an additional 280 jobs in an effort to cut costs and meet its financial goals.
In an internal memo released Friday that is now circulating on the Internet, Aether Chairman and Chief Executive Officer David Oros wrote, “What we are facing is not unique to companies in the technology industry; rather, these trends have affected the entire economy. Aether must operate as efficiently as possible in order to reach profitability, deliver shareholder value and foster a stable working environment for the long term.”
An Aether spokesman declined to comment on the situation.
Aether’s move comes after its announcement in August that it would cut 250 jobs and close six facilities. The company’s revenues for the second quarter came in at US$32.1 million, up from the US$10.8 million the company earned in the same period last year and the US$30.7 million Aether scored in the first quarter. However, the company’s operating loss was US$48.4 million compared with US$11.3 million during the same period last year.
In August Aether executives also reiterated that the company will reach positive earnings before interest, taxes, depreciation and amortization by the third quarter of next year.
Aether’s last reported employee count was 1,375.
