Interlink cuts workforce
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.