YOUNGSTOWN, Ohio (WKBN) – WKBN 27 First News has obtained a memo from the CEO of Youngstown’s Turning Technologies which discusses layoffs and a large decrease in net billings.
According to sources, the memo was written by Turning Technologies CEO Ethan Cohen. It states that net billings were about $4 million below last year, and the deficit will increase when September’s results are released.
The memo states that there will be a reduction of about 20 positions, along with some changes in roles and responsibilities.
One of the issues — the memo states — is the loss of Higher Education clients.
A Turning Technologies spokesperson would not confirm the existence of the memo or the losses and said there have been 20 staff changes.