VICTORIA - Vecima Networks said Tuesday that it is cutting staff by 18% as part of cost-saving initiative designed to return the company to “operational profitability”.The manufacturer and cable operator blamed a strong Canadian dollar, continued weak economic conditions in the U.S., reduced demand for legacy solutions and slower than anticipated sales growth of new products for the job losses, which it expects will reduce expenses by approximately $6 million in fiscal 2012.Vecima also said that it is “prioritizing its resources” to focus on the sales of new products."We are determined to take advantage of the opportunity to generate sales growth from new products in...
