The newly private firm is removing positions related to public market reporting, such as legal and financial positions, and is also letting go of some product development workers. The latter group tends to be more fluid with employees added or subtracted in phases, said CEO Peter Strom in an interview with OBJ.
While he would not disclose the number of employees affected, he noted the current workforce - after the layoffs - is 255 to 260 worldwide, and 170 to 180 in Ottawa.
"Some positions will be phased out over time as we go through the integration process," he said.
In addition, the Ottawa-based surveillance technology firm offered change-of-control buyouts to selected, undisclosed executive members that contractually kick in upon ownership changes.
The goal of the cutbacks is to make March, which traditionally struggled with the bottom line while an independent public company, a more profitable operating unit of Infinova.
Mr. Strom said he was not offered a package and has no immediate plans to depart. He said he will wait until the integration is complete, "and we'll see what happens."
When the $90.1-million acquisition was first announced in December, Mr. Strom said the takeover would provide stability for his company, which manufactures video and surveillance systems.
At the time, Mr. Strom likened the takeover to IBM's acquisition of Cognos, which added staff in the years following the takeover.
The acquisition recieved shareholder approval in March, and approval from the Ontario Superior Court of Justice days later.
March Network shares were delisted from the Toronto Stock Exchange on April 27 when the acquisition officially closed.
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