Seattle-based MOD Systems, which makes technology to deliver movie and music files through self-service kiosks, has cut 35 percent of its workforce, according to a blog post from CEO Anthony Bay that was cited by TechFlash. Bay didn’t say how many employees remain. “While these are incredibly difficult decisions, they are the right ones for the business at this time,” Bay wrote. MOD Systems has had a rough couple of years, as its former CEO was sued by an investor for fraud and embezzlement in February 2009. But the company did appear to rebound a bit when it raised $6 million in financing in September.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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