December 15, 2010

MOD Cuts Staff By 35%

Digital movie and music kiosk operator MOD Systems has cut its staff by 15 employees, or 35%, bringing its staff down to about 30, company CEO Anthony Bay said Dec. 14.

MOD Cuts Staff By 35% | homemediamagazine.com

The cuts came primarily in the company’s marketing and engineering departments, as MOD is turning more toward outside partners to help with marketing, and current kiosks don’t require much in the way of updating, Bay said.

“While we’re pleased with our product development and performance to date, we need to take important and appropriate steps to ensure the long-term health of the company,” Bay wrote in a company blog post. “Having to say goodbye to exceptional employees is one of the most difficult decisions we, as a company, can make. We recognize the tireless and passionate contributions they’ve made to the company, and we just cannot thank them enough for their commitment.”

Bay also said that the company is looking into additional financing and is reducing sales and marketing spending.

MOD Systems currently has more than 60 digital movie and music kiosks deployed nationwide.

MOD Cuts Staff By 35% | homemediamagazine.com

Posted by staff at December 15, 2010 02:34 PM