Altada extends staff layoffs as it continues to seek $5m in emergency financing

Allan Beechinor, co-leader of the firm, has said it is confident of confirming new investment soon

Niamh Parker and Allan Beechinor, the co-chief executives of Altada: the company is seeking $5 million in bridging finance to stay in business. Picture: Darragh Kane

Altada, the troubled technology company that is seeking bridging finance to secure its immediate future, has extended its temporary layoffs for 40 employees. Allan Beechinor, who co-leads Altada with his wife Niamh Parker, told the Business Post the company was confident of confirming new investment shortly.

Staff were informed of the decision to extend the layoffs by management on Tuesday. The moves comes after Altada previously furloughed staff for a six-week period beginning in late ...