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Wireless Ronin reduces staff by 35

MINNEAPOLIS — Wireless Ronin Technologies Inc., a digital signage solutions provider, announced it has reduced its workforce by 35, including both employees and contractors, or approximately 22 percent. The reduction is intended to align the company’s expense base with the current level of sales and projects and improve the overall efficiency of the organization. The workforce reduction was implemented across all areas of the organization, including sales and marketing, product development, project management and administrative functions. After the workforce reduction, the employee and contractor base now totals 125.

“As a result of the continuation of a sluggish economy, Wireless Ronin has re-evaluated its business infrastructure,” said Steve Birke, interim chief executive officer for Wireless Ronin. 
The workforce reduction reflects Wireless Ronin’s efforts to match its cost structure and internal resources with its sales levels and project commitments.

“This was a difficult decision, but one that we made to remain operationally strong,” Birke said. “We believe that these reductions will not adversely affect our current client relationships or operations, the project implementations that we have in the pipeline, nor new sales efforts. We also remain optimistic and enthusiastic about the RoninCast software solution, which is the only complete, front-to back-end solution in the digital signage marketplace.”

The reduction is expected to result in a pretax severance charge in the fourth quarter of 2008 of approximately $100,000, or $0.01 per basic and diluted share. As a result of the workforce reduction and lower non-employee operating costs, the company anticipates that ongoing quarterly expenses will be reduced by $1.0 million, or $0.07 per basic and diluted share, on an annualized basis, commencing in 2009.