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Iomega slashes workforce by 25%

Storage solutions provider Iomega is laying off 145 staff members, representing one quarter of its workforce, reports The Register. “Most of the axed jobs comes from Iomega’s recently-abandoned digital capture technology (DCT) development programme,” notes the story. “The company is taking an asset impairment charge of $4m-$6m, mostly non-cash writedowns, to cover the wind-down of activities.” The jobs cuts will reportedly cost the company $5 million to $7 million in severance payments, but save Iomega $30 million to $35 million a year overall.

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