SMT, a Durham company that provides data and on-screen graphics for televised sporting events, has trimmed its staff by “less than 5 percent” as part of a restructuring of its work force.
“We eliminated positions that were not part of our core business...and we’re hiring people in other areas that are,” said founder and CEO Gerard Hall, who declined to specify how many employees lost their jobs.
All but one of the eliminated jobs were at the company’s Durham headquarters.
After the cutbacks, privately held SMT has more than 250 employees in Durham and at its Information and Display Systems business, in Jacksonville, Fla., which provides scoring and statistics on-site at sporting events. A breakdown of how many employees work at each site wasn’t immediately available.
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Hall said that SMT had expanded into a new business, which included hiring new employees “ahead of revenue,” but that it hadn’t panned out. He declined to disclose specifics about that business.
Overall, he said, the company is doing well.
“We are more profitable than we were last year,” he said. “Our revenue is up.”
Hall also said that SMT also expects to announce an acquisition soon.
“It’s going to be game-changing,” he said.