http://phoenix.bizjournals.com/phoenix/stories/2005/06/27/daily30.html?jst=b_ln_hlA global reorganization at Hypercom Corp. will lead to more than 100 job cuts, many of them high-paying executive positions.
The Phoenix-based maker of electronic payment systems said Wednesday that it will lay off workers and eliminate senior management positions as part of a global reorganization designed to save more than $15 million per year.
By Thursday, Hypercom plans to eliminate 21 senior management positions globally with titles including executive vice president, senior vice president, vice president and regional president. More than 25 employee annual pay packages in excess of $100,000 each will be terminated, and global head count will be slashed by more than 100.
Hypercom also plans to consolidate the majority of its software and applications development capability into its existing overseas facilities.
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More credit card information being shipped overseas :(
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