October 3, 2022
Loading...
You are here:  Home  >  Current Article

Interlink cuts workforce

IN THIS ARTICLE

John A. Buckett, II, chairman and interim chief executive officer of Interlink Electronics in Camarillo, said as part of the company’s reorganization, 14 full-time employees and 30 part-time employees were given notice on May 27 that their employment with Interlink was terminated  immediately.
 

Interlink now has a total of 205 full-and part-time employees.
As of June 30, Buckett said he has elected to forego receiving a monthly salary. Interlink’s three other executive officers, Charles Best, Rod Vesling and Farhad Rostamian, have taken a 10 percent reduction in monthly salary, as Interlink works toward two consecutive quarters of cash-flow positive operations.
The company expects to realize an annual cost savings of more than $2 million as a result of the changes effected by the reorganization and to generate $24 million to $28 million in revenue for the fiscal year ending Dec. 31.