Orbcomm Global and its Vantage Tracking Solutions division will remain in the trailer-tracking business in spite of a significant layoff in personnel, according to the chairman of the limited partnership. As yet, the company has no positive cash flow despite its rapid growth.
The business announced June 29 that it had laid off 112 employees and contractors, or 20% of its workforce, decreasing in size from 560 people to 448.
With headquarters in Sterling, Va., near Dulles International Airport, Orbcomm maintains a network of low-orbiting satellites. Its Vantage Tracking division in nearby Herndon, Va., uses the network to offer trailer-tracking services. With the small homing devices, the company tracks trailers throughout North America and charges fees to carriers that use its service ("Trailer-Tracking Is Much Improved, Suppliers Say," 5-8, p. 17).
Scott L. Webster, chairman and chief executive, said Orbcomm needed to refocus its energies on the development of products could delivered profitably sooner. “There are about 15 to 20 applications for the satellites that we had been working on,” he said. “Now we’re cutting back to about six.”
For the full story, see the July 17 print edition of Transport Topics. .
