If I were a betting person: Marchex will wait 4 weeks and see who runs like hell and not back fill the positions unless absolutely necessary and reassess. The next round will be very painful as those who are left will be expected to succeed with 15 to 20% less. The number of people let go nets around $6M a year and that is a generous estimate. All things considered, they need to get the "Savings" up near $10M to make a dent in what they look to be loosing this year.
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If the company is not being intentionally set up to be bought so the execs granted large stock options get a huge payout, and Q3 is as bad as Q2, expect the next round to be early Q4 of 2016. Here is the transcript from the Q2 financial meeting:
I love this line from Michael Arends (CFO) "We are just half a year into our new sales approach and expect our initiatives to take time to ramp. We are pleased with the quality and experience of our new sales team and they have been successful at adding new clients early in their tenure."
This was said on Aug 10th, 2016. On Aug 17th, 2016 at least 7 members of the sales team were laid off, so what sales team was he pleased with?
Some other good reading that may apply here (or not. Pete C. may really be trying to save the company.)
Any updates about 2017 - what do you think - massive layoffs?
Augering themselves into the ground.
glad to see them finally persish