MOD Systems Cuts 35% of Staff
Seattle-based MOD Systems, which makes technology to deliver movie and music files through self-service kiosks, has cut 35 percent of its workforce, according to a blog post from CEO Anthony Bay that was cited by TechFlash. Bay didn’t say how many employees remain. “While these are incredibly difficult decisions, they are the right ones for the business at this time,” Bay wrote. MOD Systems has had a rough couple of years, as its former CEO was sued by an investor for fraud and embezzlement in February 2009. But the company did appear to rebound a bit when it raised $6 million in financing in September.