Phoenix, which acts as a system-integrator and component wholesaler, reported its third-straight quarterly loss and acknowledged the desperate need to slim its operational costs before it can return to profitability.
“Measures to cut costs and optimize the business model have been initiated in order to return to the profit zone in [2012],” the company says.
Chief executive Andreas Hänel says the number of workers to be let go will fall in the “mid-double digit” range.
