Alteva to lay off workers in its Warwick, N.Y., facility
Alteva (NYSE MKT: ALTV), an independent telco that's been realigning its focus on the Unified Communications market segment, will lay off 20 percent of the staff in its Warwick, N.Y., facility.
The telco said the workforce reduction will affect both union and non-union employees. It added the layoffs and other restructuring processes are being done to increase efficiency and realign resources.
David Cuthbert, Alteva's president and CEO, said in a release that "we believe that this reduction in staff is necessary as we further integrate our resources and align the business."
Cuthbert added the "actions are part of our ongoing efforts to position the Company for growth and to establish Alteva as a leading Unified Communications as a Service (UCaaS) provider."
Although Alteva is still a relatively new player, UC contributed about 51 percent of its total revenues in Q1 2013. UC revenues rose 15.6 percent sequentially to $4 million in the quarter, a factor the company said helped offset ongoing traditional telephone service revenue losses.
- see the release
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