Instead of throwing a party, storage switch startup Maranti Networks is celebrating the belated approach of its first product launch by laying off 15 of its approximately 75 employees, Byte and Switch has learned.
The San Jose, Calif.-based company cut the jobs last Friday. Especially hard hit was the engineering department, which lost 13, according to company spokesman Rich Mullikin. Maranti also let go two people in marketing, he says.
Byte and Switch received an anonymous tip that four of the lost jobs belonged to company directors, but the company refused to reveal whether this is in fact the case.
So, why the layoffs? It was a "strategic" decision, Mullikin says.
As we prepared for the product launch, it just became clear that some engineering and marketing positions were less critical, he says, adding that Maranti has been able to stave off layoffs much longer than many of its competitors. This was a fiscally strategic move to reduce costs as [we] ramp up to product launch.
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