OCZ Reduces Global Workforce by 28%, Offers Update on Business Outlook
November 1, 2012 8:33 AM
comment(s) - last by
OCZ restructuring efforts continue
A lot has been going on with OCZ Technology. OCZ has come a long way from its origins as a maker of high-performance memory products for computer gamers and enthusiasts. Over the years the company has dabbled in computer peripherals, notebook computers, and plenty of other markets.
The company seemed to find its stride when it ditched most of its other market segments to focus mainly on solid-state storage. However, back in September, OCZ CEO Ryan Petersen abruptly
left the company
and was replaced by interim CEO Alex Mei. Mei was later replaced by current CEO Ralph Schmidt. Schmidt has now offered an update on the status of operations at OCZ.
Schmidt explained, "We are undergoing a transition phase in the Company's evolution in which we are refocusing our efforts on products and strategies that will benefit both OCZ and our stakeholders over the long term. We have already taken aggressive steps to address some short-term tactical challenges and have begun streamlining the organization to help ensure that OCZ will be in the best position moving forward to address the fast growing consumer and enterprise SSD markets."
OCZ reports that it has taken steps to make its business more efficient and profitable by beginning end-of-life procedures that will see the discontinuation of approximately 150 product variations the company offers right now. A significant impact will be felt in the value category of the company's offerings with approximately 80% of those products being discontinued.
OCZ is adjusting inventory and working to monetize inventory to free up cash for business operations. The company is also reduced its global workforce by approximately 28%, not counting production personnel. Personnel at its Taiwanese production facility, including outside contractors has been reduced by approximately 32%.
OCZ states it will continue to take additional actions to reduce overall costs and improve operating results.
This article is over a month old, voting and posting comments is disabled
PC Power & cooling
11/1/2012 11:42:32 AM
OCZ owns this company. They make excellent power supplies IMO. Never had a lick of trouble with these power supplies, and people tend to underestimate the kind power supply when speccing a computer.
I wonder how this is going to effect them? I was bummed a little when OCZ bought this company as I have never been a fan of OCZ.
RE: PC Power & cooling
11/1/2012 4:46:42 PM
I've been a fan of PCPC for a long time. My impression is that OCZ has already done their damage.
RE: PC Power & cooling
11/1/2012 10:39:49 PM
Their power supplies are solid and still get good ratings on Johnnyguru. Their core business (SSDs) has definitely taken a hit, as other posters have said. I have had two of their drives that failed and their forums ignored the issues. However, both issues were the result of controller problems (Indilinx and Sandforce) that other vendors were experiencing as well at the time. Other than the SSD issue, their sketchy leadership and loss of focus is causing them to go downhill.
"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)
Ryan Petersen Resigns as OCZ CEO, Alex Mei to Take Position as Interim CEO
September 17, 2012, 6:36 PM
Rosewill Releases 3 New Powerline Networking Adapters
May 21, 2013, 4:29 PM
German Researchers Test 40 Gbps Wireless Broadband
May 21, 2013, 11:01 AM
Qualcomm, Samsung Push AMD to Fourth Place in Processor Market
May 21, 2013, 7:50 AM
Supermicro Looks to Shake Up Server Market
May 20, 2013, 9:00 PM
HiPerGator Supercomputer is Florida's Most Powerful Supercomputer
May 17, 2013, 7:08 AM
5/7/2013 Daily Hardware Reviews
May 7, 2013, 12:02 PM
Most Popular Articles
High School Student Creates Storage Device that Can Charge in 20 Seconds
May 20, 2013, 6:51 AM
Google Announces "Pure" Galaxy Nexus S4 for $649, Android Updates
May 15, 2013, 1:42 PM
Seawater Cooling Saves Data Center Big Bucks, Energy, Despite Jellyfish Issues
May 17, 2013, 3:23 PM
U.S. Federal Traffic Board Wants to Make Drunk Driving Threshold Far Harsher
May 15, 2013, 11:32 AM
Newegg Legal Chief: "We don't Feed the Trolls"; Defeats Bell Lab Shell Comp.
May 17, 2013, 10:11 AM
Latest Blog Posts
Quick Note: Sony "Teases" PS4 Ahead of Xbox Reveal in New Video
May 20, 2013, 12:33 PM
Nokia Introduces Instagram-Like App of Its Own to Help Lumia Sales
May 20, 2013, 7:10 AM
Parents of Pre-Teen Drivers Commonly Practice Distracted Driving Says Study
May 9, 2013, 7:16 AM
Apple's iOS 7 Running Into Internal Delays Due to Massive Overhaul
May 1, 2013, 4:26 PM
Elon Musk Willing to Spend More Money on Widening of 405 Freeway
Apr 26, 2013, 7:28 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information