Crossroads Systems Cuts Headcount by 23%

Crossroads Systems, Inc.

, a global provider of data archive solutions, today announced a reduction in its workforce affecting 30 employees, or approximately 23 percent of the company's 129 employees. The reduction comes as Crossroads' development of the StrongBox(R) shared storage solution enters its final stages. More than 85 percent of the reduction is within research and development. Expected cost savings are approximately $5 million annually.