CCTV product manufacturer IPIX Corp. has announced a downsizing that will include the closing of its engineering office in Oak Ridge, Tenn., that had served as the hub for IPIX security. The Oak Ridge closure will result in the laying off of 15 employees and all of IPIX’s operations will be consolidated into its Reston, Va., headquarters.
“After a thorough review of the third-quarter financials, we are making additional changes that while difficult will uphold our obligation to shareholders,” said IPIX CEO and President Clara Conti in a statement. “After analyzing our business operations, we are confident this is the best path forward.”
IPIX says it will retain sales personnel in Oak Ridge.
