Friday, February 21, 2014

Violin Memory Cuts Jobs and Restructures its Focus on Flash

Violin Memory implemented a workforce reduction that brings its current employment level to approximately 380 positions, which compares to 483 positions as of October 31, 2013.

The company announced a strategic restructuring plan that includes a global reorganization of its sales, marketing and engineering functions designed to sharpen its focus on core segments of the flash-based storage market, drive greater efficiency and grow revenues by strengthening engagement of indirect channels.

Earlier this month, Violin Memory named Kevin A. DeNuccio as president and chief executive officer, effective immediately, replacing interim CEO Howard A. Bain III.  DeNuccio most recently managed Wild West Capital LLC, an angel investing, management and technology consulting firm he co-founded in 2012. From 2010 to 2012, he served as the chief executive of Metaswitch Networks, and before that he served as President and CEO of Redback Networks, a publicly-traded provider of edge routers that was acquired by Ericsson.

In December, Violin Memory fired CEO Don Basile, three months after the company raised $162 million in an IPO in September.  Since then, the price of shares declined significantly.

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