Reef Point: You Were the Quarry
The company has been laying off staff as the company retools itself to become a security vendor in the fixed/mobile convergence space (see Reef Point Unveils Security Gateway).
Reef Point's spokeswoman described the firings as a "realignment of resources" and wouldn't say how many were cut. So we turned to our sources, who say Reef Point has cut about half its staff, around 50 people.
In May, the company's new CEO, Steve Diamond, said the company was adding 26 people to its payroll this year alone, giving it around 90 people overall. At the time, Diamond said the company could have 110 people by year's end (see Headcount: Synergy Qwest).
Expect to see more hirings, firings, and management shuffles -- and hey, maybe even a name change or two -- in the fixed/mobile convergence (FMC) space as startups look to find the right formula to appeal to larger vendors and carrier customers (see The Convergence Contenders for more on the startups in this market).
Startups like Kineto Wireless Inc. and Persona Software Inc. are leading the charge, having changed heads and names respectively (see Copper Mountain Man Goes FMC and Persona Turns Control Freak).
— Phil Harvey, News Editor, Light Reading