Smith Micro Restructures: 30% Workforce Cut and Leadership Overhaul
In a bold restructuring move, Smith Micro, a software company based in Pittsburgh, announces a 30% workforce reduction and leadership changes to boost profitability. This strategic realignment aims to save $7.2 million in costs by 2026. Following the loss of a major contract with Verizon in 2023, which halved its revenue, Smith Micro seeks to stabilize through new funding and innovative products. Meanwhile, the Pittsburgh Technology Council celebrates local tech achievements at its annual Tech 50 Awards, spotlighting resilience in the face of industry's challenges.
Nov 26