Follow BestMVNO In Google News
Republic Wireless has recently laid off what may be a significant portion of its staff. The company did not disclose how many employees were let go, however, sources told WRAL TechWire that the number was close to 20% of the MVNO's workforce. According to Republic Wireless's LinkedIn profile, the company is home to between 51-200 employees. The layoffs were announced at the end of May.
Chris Chuang, Republic Wireless's CEO and co-founder said that the layoffs were part of an effort "to better align our organization and resources with our growth mission." He continued "It is never an easy decision to say goodbye to talented colleagues whom we care about, but these changes enable us to continue to pursue our mission on a profitable foundation." Republic Wireless is said to be " working closely with affected team members to ensure they have the best transition possible."
In addition to the layoffs, Wave7 Research noted in a report recently sent out to subscribers that Republic Wireless has also reduced the size of its office space. An article in the Triangle Business Journal said that an SEC filing by Bandwidth (Nasdaq: BAND) disclosed that it has amended its lease agreement with Republic Wireless. Effective June 9th, the amount of office spaced leased from Bandwidth by Republic Wireless was reduced from 40,567 square feet to 17,071 square feet. Republic Wireless previously operated as a business unit of Bandwidth but was spun-off as a standalone company in late 2016.
Republic Wireless spokeswoman Sarah Segal downplayed the company's office space downsizing. The MVNO has additional space at Centennial Campus at North Carolina State University in Raleigh. Segal said that the company took "additional space" at the campus on the fifth floor last year "and have been in the process of moving teams up there," implying that the space reduction is not as dramatic as it appears on the surface.
In a prepared statement seemingly sent to the Triangle Business Journal, Republic Wireless said " In an effort to better align our organization and resources with our growth mission, we had to make the tough decision to reorganize our teams and eliminate some existing roles. It is never an easy decision to say goodbye to talented colleagues whom we care about, but, these changes enable us to continue to pursue our mission on a profitable foundation with annual revenues approaching $100 million."
A statement made to WRAL TechWire by Republic Wireless read "We remain committed to growing both our Republic Wireless business and our new Relay product, a smarter and safer phone for kids, which recently became available in over a thousand Target stores around the country."
Follow @BestMVNO Twitter