Pink Slips Hit Narad Networks3/18/2003 5:56 AM Eastern
The pink slips are flying at Narad Networks Inc. Tuesday as the Westford,
Mass.-based coaxial-technology provider announced that it will cut its work
force by 40 percent.
Narad -- a provider of cable Ethernet Internet-protocol systems designed to
give cable operators a way to extend into enterprise markets -- will pare down
its staff to about 50 workers. Affected employees were notified Tuesday.
The cuts are being made companywide, and they will impact its headquarters,
as well as outlying sales offices.
Despite the cuts, privately held Narad plans to continue its field-trial work
with two unnamed top cable operators in the United States. It recently snagged a
field trial with Japan's StarCat Cable Network, and it is involved in
revenue-producing trial with a European MSO.
Narad is in the middle of another funding round, and the hunt for new
investors is progressing, according to the company.
Other recent changes at Narad include a reshuffling of its executive
Founder and CEO Dev Gupta moved over to a position as chairman of Narad's
board of directors, passing on the CEO responsibilities to chief financial
officer Craig Dynes.
Marketing chief Chuck Kaplan took over as chief operating officer, and Marc
Aldrich saw his role as vice president of North American sales expand to include
worldwide sales and customer service.