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Article: Layoffs hit Four Pi Systems; venture funding imminent. (Four Pi Systems Corp.)
- Article from:
- San Diego Business Journal
- Article date:
- July 15, 1991
- Author:
CopyrightCOPYRIGHT 1991 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Layoffs hit Four Pi Systems; venture funding imminent
Four Pi Systems Corp. last month laid off roughly one-quarter of its workforce - about 25 employees - according to industry sources.
But relief for the company - another round of financing - may be on the way.
Stella Harrison, controller for the Rancho Bernardo high-tech manufacturer, confirmed the layoffs, but would not disclose the number or percentage of employees cut. Employment totals "less than 100," she said, but would not be more specific.
Harrison blamed the layoffs on slow sales and the recession. "The recession has finally caught up with us," she said.
An industry ...