Wireless tech firm AirIQ cuts 36 per cent of workforce

Pickering, ON-based AirIQ Inc. announced today that it will cut its workforce by 36 per cent (about 21 jobs) to save $1 million a year in the face of mounting economic uncertainty. AirIQ – which specializes in technology and services that allow its customers to locate, monitor, control and communicate with vehicles and marine vessels in real time – said it expects to pay one-time severance costs of about $850,000 over the next few quarters.

AirIQ has been undergoing a year-long restructuring that saw it reduce head count in 2007 from 123 to 59.