OneRiot Lays Off Staff, Shifts Exec Team

Boulder-based OneRiot, which develops a real-time search engine, said Friday morning that it is letting go of some of its staff, and shuffling its executive lineup. The firm said the changes will "propel the company to the future faster." According to OneRiot, founder and CEO Kimbal Musk has transitioned to Chairman, with Tobias Peggs, the firm's President, taking over the reins as CEO. Robert Reich, one of the co-founders of the firm, is leaving, and the firm also said it has had to let go of a "handful" of its employees. Exact number of employees impacted by the move were not disclosed.