ASX-listed value-added reseller Volante has cut 22 staff in an effort to align its costs with falling revenues.
A sombre Allan Brackin, CEO of the Volante Group, confirmed that 22 of the company's 480 staff had been laid off. "It is the first time we've ever had to do something like this," he said.
Brackin said about 10 of the staff were from the business solutions network solutions teams at Volante Solutions (formerly Netbridge), and a similar number were back-end administrative workers at procurement business Volante Systems. Two were from the group's recruitment business.
"We just had too many people for the revenue we are doing." Volante Solutions' staff numbers had grown by 40 per cent over the last 12 months, according to Brackin, but revenues had slowed significantly.
"Everyone is aware the industry is in a tough situation," Brackin said. "But there is no cause for panic or concern at our place. This is less than 5 per cent of our staff. We are just trimming a little bit to keep the house in order."