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Interphase Cuts 12 Employees

Plano-based Interphase said late Friday evening that the firm is cutting 12 of its employees, as part of a restructuring of its worldwide operations. The firm said the move helps "align the company's spending with recent revenue trends" and to enable "additional investments in strategic growth areas." The firm said the cuts would save the firm over $1.5M annually, but result in a restructuring charge of between $900,000 to $1.3M. The firm did not say what percentage of the firm the cuts represent. Interphase is a publicly held developer of networking hardware and packet processing products.