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( KNZA )-Hemisphere GPS will relocate its corporate headquarters from Canada to Hiawatha.
As part of a restructuring move, the company says it will focus exclusively on the precision agriculture market under its new CEO Rick Heiniger. Hiawatha is the current center for its agricultural operations under the Outback Guidance brand.
Hemisphere has been in Calgary, Alberta since being founded as Canadian Systems International in 2000. The company’s name was changed to Hemisphere GPS in 2007.
In pursing its new strategy, the company will lay off more than 100 employees and contractors in Calgary, reducing its workforce from 273 to about 170.
The moves followed the latest series of continuing losses in recent years.
The restructuring will take place largely over the next 12 months.
Upon completion, the savings from the overall restructuring are estimated at about 7 million dollars annually.
© Many Signals Communications
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