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Tranax says layoffs are part of restructuring
August 1, 2007
NEWARK, Calif. - Officials at Tranax Technologies Inc. said yesterday's layoffs are part of the company's plans to restructure and streamline operations.
Tranax was reluctant to provide a definitive number for the layoffs, saying simply that the reduction of force did not involve a "significant" number of people and was more a reflection of job shuffling.
"In terms of layoffs, the number was very small," said Jeffrey Lee, Tranax's director of self-service terminal sales. "In some areas, like technical support, we feel we have added more resources. We made some changes that did nothing but improve our ability to serve customers."
Bill Dunn, Tranax's vice president of sales, said the company's new focus on more complex and dynamic self-service equipment and technology demanded some corporate changes. The company reinforced its corporate changes last month during its distributors conference in Newark. In addition to its focus on broader self-service offerings, Tranax has created a board to oversee its growth and corporate governance.
"We felt like we had to up the qualifications of our engineers, and so we did replace some staff in support area," Dunn said. "But that's just one area. We felt like we had to have more of an engineering presence. Beyond that, we are just streamlining our processes. I don't really like the term layoff. We just changed some things."
Banking Executive SummaryDistributors / ISO / IADRetail / Off-PremisesOtherNorth AmericaManufacturersBank / Credit UnionSoftwareTranax Technologies, Inc.
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