Monday, August 18, 2008
RF Monolithics Cuts Jobs, Sacks Software Subsidiary
RF Monolithics Inc., a Dallas-based manufacturer of machine-to-machine communication equipment, reported Monday that it will slash some 17 percent of its workforce in a bid to return to profitability. RFM explained that the job cuts, coupled with the discontinuation of its Aleier software and services business and other recent initiatives, will result in approximately $3 million in savings for the next fiscal year. RFM said its recent poor earnings were the result of its Aleier subsidiary incurring a substantial loss during the first nine months of the current fiscal year. RFM also blamed a diverse M2M market that has not grown as expected.