Cable modem maker Minim is slashing its workforce and examining strategic initiatives, including potentially filing for bankruptcy.
The company formerly known as Zoom Telephonics, which up-listed its shares from the penny stock to the Nasdaq market two years ago, has reduced its workforce from 41 to nine full-time employees, according to a public filing dated Sept. 7.
That's down significantly from the end of last year, when Minim had 93 employees in total. It employed approximately 80 people when it landed on the Nasdaq.
It's unclear whether the Manchester, New Hampshire-based company still has presence in the Bay State, and the company did not respond to multiple requests for comment Friday. As of Friday, Minim's Canton address is no longer listed among its locations. At the end of 2021, the lease for the 3,200-square-feet office space in Canton was extended to May 2024.
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In 2021, Minim employed 10 people in Canton and about 20 people in New Hampshire.
