Vislink to Lay Off 25% of its Workforce

Posted by Joe Zaller
Jan 26 2011

Vislink, which owns several brands in the broadcast industry including Advent, Link, MRC, Pacific Microwave, and Gigawave said today that it plans to lay off approximately 25% of its workforce.  

The cost of the restructuring will be approximately $1m.

The news follows on from the company’s announced restructuring last year

In November 2010 Vislink said that after conducting a strategic review of its operations, it would divest its marine and energy business in order to focus on IP based systems for the news & entertainment and law enforcement & public safety markets where “it believes it is already regarded as a market leader.”

Vislink completed the sale of its marine and energy business to Hernis Scan Systems AS at the end of December 2010.

Now that the disposal of its marine and energy business has been completed, Vislink is now reducing its remaining headcount by approximately 60 people.

According to the company these reductions will be combined with further site-consolidations and the acceleration of the transfer of product sourcing to Asia.

As a result of these actions, Vislink expects to reduce the total fixed cost-base of the continuing business to approximately $32m (£20m), which it says is “consistent with the current market trends and expected revenue growth of the company.”

Vislink’s revenue in 2010 was approximately $108m (£68m).

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The company’s statement about the most recent restructuring is here.

You can read about Vislink’s previous restructuring announcement here.

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