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Wireless Ronin to cut 22% of workforce
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Wireless Ronin to cut 22% of workforce
Wireless Ronin Technologies Inc., a Minnetonka maker of software for digital signs, said it will cut 35 jobs, or about 22 percent of its workforce, to trim costs. "This was a difficult decision, but one that we made to remain operationally strong," said Steve Birke, the company's interim CEO. Wireless Ronin said it will record a fourth-quarter charge of $100,000 related to severance costs, but it expects quarterly savings of about $1 million starting next year. In the first half of this year, Wireless Ronin reported a net loss of $9.2 million on revenue of $3.5 million. The company is scheduled to report third-quarter results Thursday.
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Ameriprise adds advisers from H&R BlockAmeriprise Financial Inc. of Minneapolis completed its acquisition of H&R Block Financial Advisors from H&R Block Inc. for $315 million in cash. H&R Block's 950 advisers will become Ameriprise Financial-branded employee advisers, giving Ameriprise more than 12,000 total advisers. The transaction is expected to add about 365,000 client accounts and $27.5 billion in client assets, Ameriprise said.
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VeraSun trading cut off after Chapter 11Shares of VeraSun Energy Corp., which accounts for about 13 percent of the nation's ethanol capacity, were suspended Monday on the New York Stock Exchange after the company filed for Chapter 11 bankruptcy protection late Friday. Shares of VeraSun, based in Sioux Falls, S.D., fell 52 percent to 23 cents before trading was cut off.
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