Friday, August 29, 2008

Overland Axes Staff

San Diego-based Overland Storage, a developer of data storage and backup hardware, announced this morning that the firm has cut 53 employees, or 13 percent of its staff. Overland said that the cuts were made to reduce operating costs at the firm, as it looks to return to profitability at the company. Overland said the cuts come in addition to a cut in its spending plan across all of its departments and geographic areas. Vern LoForti, President of Overland, blamed the move in part on a "substantial increase to operating expenses" from the firm's recent acquisition of Snap Server. In conjunction with the cuts, Overland has appointed Ravi Pendekanti as its VP of Worldwide Sales and Marketing, saying that its VP of Worldwide Sales, Robert Farkaly, has left the company.

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