Sierra Wireless (SWIR) Announces Corporate Restructuring; 60 Positions Eliminated; Reaffirms Q3 and Q4 Outlook

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Sierra Wireless (Nasdaq: SWIR) announces that they are dividing their business into three structures:

• M2M Embedded Solutions;
  
  
• Mobile Computing; and
  
  
• Solutions & Services

Organizational changes related to the new structure are:

• Dan Schieler, formerly Senior Vice President of Worldwide Sales, has been named Senior Vice President and General Manager of the Mobile Computing business unit;
  
  
• Didier Dutronc, formerly Senior Vice President of Global Marketing, has been named Senior Vice President and General Manager of the M2M Embedded Solutions business unit;
  
  
• Emmanuel Walckenaer continues in his current role as Senior Vice President and General Manager of the Solutions & Services business unit; and
  
  
• Philippe Guillemette, formerly Senior Vice President of Advanced Technology, has been named Chief Technology Officer.

Additionally, the company has eliminated 60 positions in connection with the restructuring. Operating expenses will be reduced by about $1 million per quarter. A charge of $4.5 million is expected to be incurred with the move.

SWIR reaffirms its non-GAAP Q310 and Q410 outlooks.

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