13% Workforce Reduction at Qualstar

Qualstar Corporation announced a 13% reduction in workforce related to the end of life certain unprofitable, legacy product lines and old drive technologies.

This action is expected to result in annual savings of approximately $480,000.

This decision is part of the company’s previously-announced strategic plan and one of many steps the company is taking to lower its breakeven and reach its target of profitability by fiscal year-end.

"Although these actions are never easy, this is one of the many steps we are taking to more effectively manage costs and streamline our operations to focus on key market opportunities," said Larry Firestone, president and CEO. "Qualstar remains committed to taking the necessary steps to drive revenue growth and improve profitability to deliver value to its shareholders."