WANTED Technologies Announces Major Opex Reductions to Focus on Key Growth Markets

WANTED Technologies, a provider of real-time business intelligence for the talent marketplace, announced the re-structuring of its operations that will assist the company to save approximately $800,000.

The re-structuring of operations is aimed at tapping growth opportunities in the human capital solutions marketplace.

As part of the restructuring exercise, the company will reduce operating expenses associated with supporting its consolidating media client base.

WANTED Technologies is planning to lay off some of its staff. The reductions and related layoffs are expected to result in an annualized savings of approximately $800,000 and will incur a one-time re-structuring charge of approximately $80,000.

“WANTED has been seeing excellent growth in its staffing, government and corporate HR markets,” said Bruce Murray, president and CEO, WANTED, in a statement. “However, our client base in the traditional media sector has contracted to such a significant degree, that we are required to take these difficult steps to refocus our organization on growth opportunities.”

WANTED invested significantly in products and services to bring real-time employment market information to new market segments. 

Recently, WANTED launched a new version of its Analytics flagship product for the Talent Marketplace.

Before the economic recession, WANTED generated more than 90 percent of its revenues from traditional media companies that provided print and online advertising services to employers, senior company officials said.

In the government sector, along with its partnerships with The Conference Board, WANTED provides services to 19 State Labor Market Information divisions in the US. In the Staffing sector, the company provides services to 7 of the top 10 Staffing firms.

Recently, WANTED Technologies announced the integration of WANTED Analytics with Bullhorn's customer relationship management system. Analytics offers Bullhorn customers the ability to source new opportunities within their existing customer base or prospect list with the click of a button.

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