Given these difficult times, we like all other companies, are constantly seeking ways to improve our business to better serve our customers, investors and partners. Today, Mzinga is announcing some organizational changes in support of this goal.
First and foremost, I want to thank our customers, employees and investors for their loyalty and commitment. Over the past year and a half, Mzinga has become one of the most established companies in the social software industry as a result of your partnership, trust, and support. During that time, we’ve focused on integrating the best features of our three predecessor company’s products into a single platform that will allow us to deliver enterprise-class solutions to all of our customers with greater efficiency and improved productivity.
Given that we recently completed the first phase of that integration, we are announcing the following changes:
- Rick Faulk will be leaving Mzinga, but will remain with the business as an interested shareholder. I am sorry to see Rick leave, and wish him the very best in his future endeavors. I will be stepping in as CEO given my active role over the past 18 months as executive chairman as well as my long history with the company, having founded one of its predecessor organizations in 2001.
- We are reducing our workforce by 18%, predominantly in the areas of sales, marketing and engineering as we release our newest, integrated platform. We are confident that our remaining 170 professionals and online moderators will do a great job continuing to build a leading social software and services company of which we all of can be proud and our customers can trust.
- We are elevating a number of senior professionals to leadership roles to fill the void by our recent departures. These people, who we will announce later today, have been with the firm since its inception. I have complete confidence in them and our existing leaders to continue growing our company, developing new, innovative products, differentiating our brand, and delivering superior customer support.
Finally, I’d like to say that it is always hard to see great people leave organizations – especially during these very difficult times. For me, like many other leaders, losing any team members is always painful, especially ones that I have come to know personally over the years regardless of the financial morass in which we all live. As a result, I take today’s actions personally and with great sense of loss. On behalf of all the remaining people at Mzinga, I would like to thank Rick, as well as everyone else leaving us today. I know that they will be successful in their future endeavors. For everyone who remains with Mzinga, I am confident that you will continue to build the great and leading company we all seek for everyone we serve.