Thursday, April 24, 2008

RF Monolithics to Lay Off 25 Employees

Dallas-based RF Monolithics Inc., a manufacturer of embedded wireless components for the machine-to-machine market, revealed Thursday that it will lay off some 25 employees in order to cut costs as part of a revised strategic initiative. RFM estimated that the measure will save the company more than $700,000 annually. RFM added that it likely won't start realizing those savings until the fourth quarter of the current fiscal year, after severance costs have been paid. David M. Kirk, RFM’s president and chief executive officer, said the layoffs are part of an amended strategic plan designed to streamline the company's focus in the M2M space and improve its bottom line.