VoIP technology provider AudioCodes is cutting wages across the board, a measure being taken to keep the company competitive and effective "in the face of the current global economic crisis," said CEO Shabtai Adlersberg. Line employees will take a 6 percent pay cut, while management will take a 10 percent pay cut.
The cuts come a week after the publicly traded company announced preliminary fourth quarter 2008 unaudited revenues for the fourth quarter of 2008. AudioCodes believes it will have 4Q08 revenues between $39 million and $41 million.
In comparison, its 3Q08 results were a record $46.6 million, with GAAP net income of $3.2 million, and its 4Q07 revenues came in at $42.8 million, with GAAP income of $1.3 million. So, things aren't as bad as they seem. No job cuts, either.
For more:
- AudioCodes announces pay cuts. Release [1].
Related articles
Mindspeed, AudioCodes report record results - FierceVoIP [2]
AudioCodes '09 HD audio push - FierceVoIP [3]
Links:
[1] http://www.audiocodes.com/press-releases/2009-01-13-audiocodes-announces-cost-reduction-steps
[2] http://www.fiercevoip.com/story/mindspeed-audiocodes-report-record-results/2008-11-04
[3] http://www.fiercevoip.com/story/audiocodes-09-hd-audio-push/2008-11-04