Vancouver-headquartered Intrinsyc Software International Inc., a developer of Google Android, Research in Motion BlackBerry, and Windows Mobile applications for the smartphone market, is planning on saving 8%, or $800,000, in annual expenses by cutting executive staff.

As part of a restructuring of its business the company is letting go of two vice-presidents: David Manuel, vice-president of device development and Souheil Gallouzi, vice-president of mobile product development. Neither role will be replaced.

Last week the company announced the longest-serving member of its board of directors, Robert Gayton, resigned effective Feb. 3.

Intrinsyc said it made the decision as a response to challenges with the economy, as well as heightened competition.

During the third quarter, the company expects to book US$500,000 in restructuring charges. The company last reported financial results in November, when it lost US$216,000 on revenues of US$4.4 million for the three months ending Sept. 30. Revenue for the same period in 2008 was US$7.9 million.

Last year the company lost US$5.7 million during the three months ending Sept. 30, 2008. It has reduced R&D costs this year, and has also cut sales, marketing and administration costs.

Products include include Destinator navigation and Location Based Services platform, the Soleus Transit platform for connected personal navigation devices and Soleus for converged device development, and Radio Interface Layer, a software application for wireless devices using Google Inc.'s Android operating system and Sierra Wireless Inc.'s modems.

Intrinsyc is also a reseller of Velocity, a mobile application development platform for the BlackBerry smartphone.  The product is owned & developed by Kryos, a 15-year old software company based out of Calgary, AB, which established a partnership with Intrinsyc in 2009. Intrinsyc is developing custom enterprise applications for BlackBerry smartphones using Kryos's software.

As well, the company has numerous applications for Windows Embedded CE and Windows Mobile.

As a result of the restructuring managers will report directly to the CEO. Gayton's replacement on the board is Gary Koerper, vice-president of engine systems at Motorola Inc.