Finjan Holdings Inc (FNJN)

[pennystockbrad]

They are NOT laying off 50% of their entire workforce.

They ARE cutting 50% of the workforce at those locations (Boston and NJ) -- which accounted for only a small percentage of sales anyways. The CA facility, which accounts for 75% of total sales will not incur any cuts to the workforce.

This is definitely a red flag in that there isn't enough regional sales to justify those employees. But, on the other hand, they're reducing over $2mill in salary expenses in an area that wasn't generating significant sales.

CA is, in general, more eager to embrace new eco-friendly technology especially in the organic agriculture industry. The potential for fast significant growth is there. If the CA facility can keep up with increasing demand over the next few quarters we may see substantial profitability improvement and realize the benefit to these cost cuts.

Hopefully this moves means a greater focus on growing the existing revenue sources...... we'll see.