Norwich tech firm Proxama makes redundancies as it restructures business after investment
PUBLISHED: 11:34 27 July 2017 | UPDATED: 12:16 27 July 2017
The chief executive of a tech firm has reaffirmed its long-term commitment to Norwich – despite jobs being lost during a restructure.
Proxama boss John Kennedy said the AIM-listed business would be in Norwich “for the long haul” despite around six jobs being cut at its Surrey Street headquarters.
The company recently secured £3.1m of investment as it aims to change its focus from location-based marketing technology to location data provider – which will allow advertisers to see how effective their adverts are.
Mr Kennedy said: “The investment does confirm to the Norwich tech scene that Proxama is here for the long haul.
“However the move to the new data sector does mean some of the products and services we were producing are no longer needed.”
He said while the roles were not lost as a cost cutting exercise the business would have to manage resources tightly going forward.
Mr Kennedy said new roles could be created but he could not say how many at this stage.
Proxama employs around 35 at its Norwich office and also has a footprint in London and New York.
The firm floated on the London Stock Exchange in April 2008 and has a market cap of £6.83m.