Rosetta Stone (NYSE:RST) is to shutter its remaining kiosk locations in the U.S. According to the company, the decision "accelerates a transition to cloud-based learning solutions." The move comes two days after the company announced it bought online language-instruction provider Livemocha.
At the moment, the firm operates 56 kiosks spread throughout the U.S., most of which are located in shopping malls and airports. The closure will result in a headcount reduction of around 45 full-time and 200 part-time employees.
In the press release announcing the move, Rosetta Stone said that the kiosks had been contributing a shrinking proportion of the company's overall sales.
Fool contributor Eric Volkman has no position in Rosetta Stone. The Motley Fool recommends Rosetta Stone. The Motley Fool owns shares of Rosetta Stone. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.