IRVING, Texas — Devcon Security plans to shut down its 23,000-square-foot facility here next month, nearly 18 months after opening the operations center, reports the Dallas Business Journal.
In a letter addressed to the Texas Workforce Commission, the Hollywood, Fla.-based company stated that it is “undergoing some internal restructuring,” resulting in the closure of Devcon’s Irving operations. As a result, the firm will lay off all 197 employees working at the branch.
Devcon is currently working on helping displaced employees find new opportunities through job fairs and resume assistance programs.
The news is in stark contrast to the company’s outlook a year ago, when it boasted 53 branch offices in 21 states with 1,050 employees and was seeking to add another facility in the Dallas-Fort worth area, according to DBJ.
In March, Devcon announced industry veteran Richard Ginsburg as its new CEO, only to replace him three weeks later with Steve Hafen.