Tuesday, December 14, 2010

MOD Systems Cuts Staff

Seattle-based MOD Systems, the developer of digital music kiosks headed by Anthony Bay, said today that it has reduced its staff by about 35 percent. The firm said the cuts came mainly from marketing and engineering, and cuts the number of employees at the firm to a total of 30. According to a blog post from CEO Anthony Bay, the layoffs came as the firm decided it needed to "take important and appropriate steps to ensure the long-term health of the company." Bay explained the firm is looking at strategic alternatives, including additional financing and potential "strategic transactions." In addition to the cuts, Bay said the firm is cutting sales and marketing spending, and slowing new product and feature development.