WaterMark will relocate its remaining operations to Portland, Oregon by September 30, 2005. The existing, leased Arcata facility will be vacated by year end.
“Our initial plan was to keep various departments here in Arcata for the foreseeable future,” noted Jim Clark, CEO of WaterMark. “Since we announced the move of our headquarters and some of our departments to Portland, the difficult realities of such a transition have become more evident. In addition, our rent at the Arcata facility has risen dramatically. As a result, It is clear that the sooner we have all of the departments operating together as a single team, in a single facility; the better it will be for our business and our customers.”
A select number of employees in the additional departments affected by this decision will be offered the opportunity to move to Portland. Other employees will be eligible for standard severance and unemployment benefits.
