On Storage

© texas_mustang

I've been down this road too often. Overland Storage has let a whopping 53 employees go yesterday in a attept to trim costs and look to the future. While 53 employees do't seem like much, it is 13% of Overland's work force. When I was last laid off by a storage company, 900 employees where laid off. Think it might have been .5% of the workforce. Big difference. The 900 were not even missed. But 53 or 13 leaves something more noticible.

But to put it in perspective, these layoffs were said to save about 10 million a year, there are still 345 workers, and certain projects will just be put on hold. Stock is down 59% and in my opinion my be the time to buy.

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