InterDigital drops 100 jobs

The press release said the move was about “profitability” so, you know, don’t worry about it.
One-hundred people will lose their jobs with InterDigital, a King of Prussia-based wireless technology company, as the company closes further development of its SlimChip mobile broadband modem technology, according to a company press release.
That news was buried by the company’s announcement to expand its technology development and licensing business through targeted new investment in both cellular and non-cellular wireless technologies.
“The decisions made today will result in substantially higher levels of profitability for the company,” the press release said. InterDigital CEO William Merritt made the statement, perhaps unaware of how much that must burn one of his 100 now unemployed former employees. He is depicted above ringing the opening NASDAQ bell in the simpler times of November 2006.
Technology employment has been rough all around.
Due to their realignment, the company expects its core operating expenses, not including arbitration and litigation expenses, will decline by approximately $33 million  before taxes on an annualized basis compared to 2008.
The job cuts will be split among the company’s three locations, which are in King of Prussia, Melrose, N.Y.; and Montreal, the company said. The company employed 379 at the end of last year, according to its annual report.