PRETZEL Logic is reviewing its tenure at its EastPerth premises, citing poor growth performance as a key reason for the move.“We were in a little house in Northbridge [in 1999] and we were expecting to grow into the [East Perth] premises over the next few years,” Pretzel Logic managing director Steve Pretzel said.“In April 2000 there was the dot.com crash and the subsequent slow down.“Then there was a change in State government and a lot of government business went on hold, but that is starting to come through now.”He said a host of local IT operators had found the going tough recently and, while Pretzel has had to make cutbacks, including four redundancies this week, he remained confident of the company’s position in the IT industry.“We have a strong market position. That is because there are less competitors to share the work,” Mr Pretzel said.He said the four redundancies – three in client services roles and one in application programming, were part of a company restructure.“It’s an unfortunate part of the industry. At the height of the tech boom Pretzel was the fastest growing privately held technology company,” Mr Pretzel said.“It’s been a very tough time, but you have to adapt to the trading conditions.”Pretzel Logic was rated as one of the fastest growing technology companies in the 2002 Deloitte Technology Fast 50 Program.The Fast 50 ranks technology industry players by percentage of revenue growth experienced during 1999 to 2001.Pretzel was ranked 40.
© Business News 2017. You may share content using the tools provided but do not copy and redistribute.