In the wake of last year’s sales decline and weak anticipated growth in 2010, CCTV solutions manufacturer’s Pelco announced Wednesday that it would be cutting the size of its workforce by about 100 employees.
Despite implementing significant cost cutting measures, including furloughs, salary freezes and outsourcing of some “non-core business functions,” the company said it cannot sustain its U.S.-based operations in the current economic environment.
“Layoffs are and have always been a last option for Pelco”, said Dean Meyer, Pelco president and CEO in a prepared statement. “This is a very unfortunate situation, but we must realign the size of operations to better match current economic conditions and to adjust for manufacturing improvements implemented over the last 12 months. This has been a very difficult conclusion for us to reach.”
Meyer added that the company will do what it can to help those affected find work elsewhere.