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Occam lays off workers

By   /   Sunday, May 17th, 2009  /   Comments Off on Occam lays off workers

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Santa Barbara-based Occam Networks on May 7 shed 22 employees or about 10 percent of its workforce, the company said in a press release.

Occam had 215 full-time employees at the end of 2008, the company said in regulatory filings in March. Occam said it would incur about $200,000 in termination costs because of the cuts.

The same day it announced the reduction, Occam reported a first-quarter net loss of $3 million on $19.4 million in sales, down from a loss of $4.5 million in the same quarter a year earlier. The company’s shares have fallen about 66 percent to around $1.80 in Nasdaq trading over the past year.

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