Vonage CEO Leaves - I Told You So!

I so called it! Vonage is totally creaking. Today, Michael Snyder, CEO of Vonage, stepped down from his position so that he, ya know, won’t be part of a company that fails. Rumor has it that plenty of other jobs have been cut over at Vonage as well, which is probably true when your stock is a whopping $3.11 a share.

Despite all the woes lately, Vonage still posted a decent Q1 earnings report of $195 million in revenue. Not too shabby, but the company is really starting to cut back on spending. Vonage has said it plans to save up to almost $150 million by cutting expenses and firing employees. Rats? Sinking ships?

Vonage Chief Executive Steps Down [AP]

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1 Comment so far

 
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VinceFan (Who am I?)

Vince, you’re a genius. When CrunchGear shitcans you - just like every other blog you’ve ever worked for - you should be able to make quite a living off your stellar predictions and quick-witted writing style.

Tool.

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