Belts tightened in push email
Visto lays off another 10 per cent
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Data pushing vendor Visto has laid off another ten per cent of its staff, though it won't confirm if that means its development will be moving out of the UK entirely.
Visto used to have more than 300 staff around the world, and this latest "modest restructuring," as the company calls it, involves laying off ten per cent of the remaining workforce. We asked how many that is these days and the company initially told us 300, then called back and said they weren't sure and would have to check. Given the rate at which the company is shrinking, it's probably hard to keep track.
Our contacts tell us the people concerned include the UK development staff, but we've not been able to confirm that and the company won't be drawn on the issue beyond admitting the layoffs and explaining they are being made in the interest of "align[ing] our organization with our customer requirements and bring[ing] the Company to immediate profitability in what everyone acknowledges is a challenging economic environment".
Profitability has proven elusive for Visto, particularly since a key patent claim against RIM was dismissed as invalid in March - despite an extensive round of layoffs in April.
The company is putting a brave face on the situation, and one of the founders will be addressing the Symbian Smartphone show in London next week, presumably to explain why burning $300m and suing everyone nearby hasn't proved an effective business strategy. At least not yet. ®
COMMENTS
Further visto job cuts
A further 21 people were laid off by Visto, 16 of these from the UK office who were all development engineers
Development work will now be done primarily from the China office with no dev work being carried out at the Uk office
Latest run of cuts
I agree with all the past comment. As a previous employee of the badly run business known as Visto, they spend way to much on Expenses and very litle is gain. As one of the few to jump ship before any of the culls, i'm happy i left a sinking ship before it started to really go under.
The management command massive salaries, EMEA Support VP earned in excess of 150k but yet could not install the simple to use software on his device, his work around being carrying multiple phones if one went dead.
All these golfing trips wih other European managers (bear in mind these are not customers, internal managers) soon begins to eat at the coffers. I have been on the blunt end a fair few times and the mentality of the "new" management is a joke. Bring back the days of old with Bill Foreman, Doug Pratt, and oust out the existing management that pushed hard working people that loved visto for what it does, not what money it generates!!
All venture capitalist need to be aware of the state that Visto is in over two years ago they were blowing their horns saying we need no more VC money, then 3 months in they sign up a 50m deal, then we are told the same thing we will be in the green and profitably in 3 months, and yet more capital is raised. Does the value of the shares held by Visto employess actuallymean anything, as the old saying goes... are they worth the paper they are printed on... in this diluted commercial company they are not.
Hiring and firing at Visto is a family business. THey only hire there own, and dont like the true worker.
VC stop sending these morons money
VC stop sending these morons money. They are laughing at you!
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