Layoffs at Telit, an Annual Event?

telit office.jpg

Sources tell us IoT company Telit has laid off 38 people. We have reached out to the company for details and did not immediately hear back. One person affected by the layoffs says this move has affected morale within the organization – obviously, not for the better.

This seems to be an annual event as last year, around the exact same time the company laid off 100 people in India and the U.S.

This news should not have any effect on the real or perceived growth of the IoT space.

IoT Evolution took place earlier this month in Fort Lauderdale, FL. and the optimism level on the show floor and in conferences was very high. There were lots of deals being done throughout the event. Mobile World Congress took place this week and seems to be strong as well – but most of the interest at this conference is related to foldable phones and other gadgets.

See some recent related IoT growth news for more:

We will update this post if the company responds.

Otherwise, check this space next year to see if the Telit layoff trend continues.

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