Friday, September 5, 2008

Silicon Mountain Holdings Cuts Staff

Boulder, Colorado-based Silicon Mountain Holdings, the publicly held holding firm that is the parent of Boulder-based DRAM and storage products firm Silicon Mountain, said Thursday that it has cut its staff, and will be cutting its board, as it looks to transition out of the memory business. According to the firm, four of the firm's five board members have left the firm--leaving only the firm's CEO, Rudolph A (Tre) Cates III--and the company has cut its staff by approximately 50 positions. The number of remaining staff at the firm was not disclosed. The company said it is moving from the low-margin memory market into the online storage area.