Prem Chand, CEO and President of Milestone Technologies, has confirmed his company has laid off an unknown number of employees within the last week.
Chand did not state how many employees were laid off, but stated the company plans on releasing more details on the layoffs to the public sometime next week.
Although Chand said the decision to layoff the employees was “very difficult” and was “hitting us all [at Milestone} tough”, the percentage of those laid off from the company was not a substantial percentage.
“When we began hiring we tried to look at the forecast of incoming calls and emails coming in, unfortunately, the volume of those calls and emails we received were not as high as anticipated,” Chand stated in a phone interview this morning. “Our plan now is to realign our resources.”
Milestone Technologies, a tech support organization first created in 1997 in Silicon Valley, announced their arrival to Chico in a press conference at City Hall in September. The company reportedly hired over 200 new employees during two job fairs for their location near the Chico Municipal Airport.
According to Milestone’s website, the company has more than 1,300 employees servicing 200 companies in 18 countries. They are headquartered in Fremont, Calif.
Chand, originally from Biggs, Calif., said the decision was emotional and difficult but said he was still very confident in the outlook for 2014 once the realignment of Milestone’s resources are in place.