(Updated at noon) Arlington-based Opower has laid off about 7.5 percent of its global workforce, ARLnow.com has learned exclusively.
The move comes amid a wave of layoffs among tech companies that are struggling to attain or maintain profitability as tech investment euphoria cools. Across the economy, there’s weakness in the employment market and in corporate profits.
“We’ve reduced a small number of roles — about 45, including about 25 in our U.S. offices,” Opower Vice President of Communications Matt Maurer said this morning in response to an inquiry from ARLnow.com. “It’s part of an effort to cut back on our overall spend in sales and marketing and R&D.”
“These moves give us a better expense profile and strengthen the very good position we are already in as the clear leader in our space, having recently renewed our largest clients to multi-year extensions and with over $480 million in contracted future revenue on the books,” Maurer continued. “These strong fundamentals — combined with our new and growing set of customer care products — put Opower in a great position for continued success.”
Opower had about 600 employees worldwide before the layoffs, which were announced to employees last week.
The company is planning to move from its long-time offices in Courthouse to a new yet-to-be-built headquarters down the street, at 2311 Wilson Blvd, in about two years. Opower received a $1 million grant from the Commonwealth’s Opportunity Fund to entice the company to stay in Virginia.
Opower, which creates energy efficiency technology for utility companies, is publicly traded under the ticker symbol OPWR. As of 11:15 a.m. it was trading at $7.30 per share. The company reported a $13.6 million loss in its most recent quarterly results.
Post Office Dedicated to Mail Carrier — “Local leaders, family members of Jesus Collazos and community members gathered at the U.S. Post Office on N. George Mason Drive in Arlington…
Good Friday evening, Arlington. Today we published articles that were read a total of 21693 times… so far. 📈 Top stories The following are the most-read articles for today —…
Today may be rainy, but in general the weather is getting warmer, the cherry blossoms are in peak bloom, and it’s a great time to get out of the house….
Say hello to the curious bunny named Franscisca. This sweet girl is currently in foster and can’t wait to find her forever home! Her friends at Animal Welfare League of…
Synetic Theater Camps are a wildly fun, highly accessible choice for young people who love moving, playing games, and making memories. Registration is open now for Summer Camps (sessions June 20-August 25) and there are even a few spots left for Spring Break camp, April 3-7.
Located in National Landing, these performance-based camps are designed for students of all ages – no theater or performance experience required.
Led by professional teaching artists, campers learn acting, movement, and technical theater skills through the lens of Physical Theater. Physical Theater incorporates acting, movement, dance, mime, and acrobatics. If you’ve seen a Cirque du Soleil performance, you’ll find many similarities.
Most first-time campers are new to the performing arts, and teaching artists are well-versed in engaging students at all levels. Parents and campers report that one of the best parts of Synetic is the community, with many families returning year after year because they feel a strong sense of belonging.
EDBS Dental Billing Solutions is pleased to announce that it has achieved compliance with the federally mandated standards of the Health Insurance Portability and Accountability Act (HIPAA) through the use of Compliancy Group’s proprietary HIPAA methodology, The Guard® compliance tracking software, and HIPAA Seal of Compliance®.
The HIPAA Seal of Compliance is issued to organizations that have implemented an effective HIPAA compliance program through the use of The Guard, Compliancy Group’s proprietary compliance tracking solution.
Clients and patients are becoming more aware of the requirements of HIPAA compliance and how the regulation protects their personal information. Forward-thinking providers like EDBS Dental Billing Solutions choose the HIPAA Seal of Compliance to differentiate their services.
“Since the nature of our business being exclusively remote, we take HIPAA compliance very seriously. With the help of Compliancy Group, we are able to take steps to fortify our systems to protect PHI information and familiarize each employee about HIPAA and how we can further safeguard PHI data.” said EDBS Dental Billing Solutions founder Goldie De Leon.
WHS Spring Festival
Join us at the WHS Spring Festival on April 22, 2023, from 10am- 3pm at Wakefield High School(main parking lot). Come out to shop, play, and eat!
Shop local vendors, arts & crafts, new and used items, food vendors/trucks, and
District 27 Toastmasters 2023 Virtual Conference
District 27 Toastmasters invites you to its annual conference where you can hear phenomenal speakers, attend professional development and personal growth seminars about leadership, negotiation, communication, teamwork, and mentorship. Learn how to develop your personal story and how to improve