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Tip Sheet: Layoffs at Cubic–Vendor Says It Amounts to Only 2% of Workforce but Won’t Release Figures; Insiders Say Cuts Taking Toll on Engineers, Others

by Dan BalabanPosted on November 14, 2025 (December 13, 2025)Posted in Closed LoopTagged Editor's Choice

U.S.-based Cubic Transportation Systems has yet to release a total for the number of employees it plans to lay off, but Mobility Payments is hearing it could be 15% or more across certain job categories, such as engineers, architects and project managers...

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Ratings Agency Warns of ‘Onerous Debt Burden’ for Cubic, but Says Vendor’s Transit Clients Shouldn’t Worry

by Dan BalabanPosted on February 17, 2025 (April 28, 2025)Posted in Closed LoopTagged Cubic

S&P Global, a major ratings agency, has downgraded Cubic Corp.’s credit rating to CCC+ from an already low B-, warning of an "onerous debt burden" for the company that includes Cubic Transportation Systems. The primary analyst for the ratings change told...

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Cubic Hires Former Vix Chief as Head of Business Development, Replacing ‘Turnaround Expert’ in Post

by Dan BalabanPosted on June 11, 2024 (August 31, 2024)Posted in Closed LoopTagged Cubic

Cubic Transportation Systems has replaced its head of business development–and turnaround expert–Rich Varos with fare-industry veteran and former head of Vix Technology David Maitland, Mobility Payments has learned. The move, coming after Varos was in...

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In-Depth: New York’s MTA Takes Away Part of OMNY Project from Cubic; Seeks Completion of Rollout by Close of 2025

by Dan BalabanPosted on May 22, 2024 (August 31, 2024)Posted in Open LoopTagged Editor's Choice, MTA, OMNY

New York transit authority MTA today took a key part of its high-profile OMNY fare system away from its main technology vendor, Cubic Transportation Systems, as it seeks to complete OMNY over the next 18 months. The board of the Metropolitan Transportation...

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Cubic Confirms It Outscored Indra on Technical Points, Despite Losing Big Contract in Ireland

by Dan BalabanPosted on May 2, 2024 (December 4, 2024)Posted in Open LoopTagged Cubic, Editor's Choice, Indra

Cubic Transportation Systems has confirmed that it topped the winning vendor, Spain-based Indra, on technical points in the recent competition for the large next-generation ticketing system contract in Ireland, Mobility Payments has learned. The contract...

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Tip Sheet: Cubic Lays Off More Employees; Contends It Needs to ‘Become Leaner’ and More Competitive

by Dan BalabanPosted on April 15, 2024 (May 15, 2025)Posted in Closed LoopTagged Cubic, Montreal, SEPTA

Cubic Transportation Systems is laying off more employees in an effort, it says, to “become leaner and more responsive” to the market, Mobility Payments has learned. The U.S.-based vendor, the largest fare-system supplier globally, already laid off more...

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‘It was Theirs to Lose’: A Look at Cubic’s Surprising Loss of Key U.S. Fare Project after Tight Competition with INIT

by Dan BalabanPosted on February 27, 2024 (October 25, 2024)Posted in Open LoopTagged Editor's Choice, MARTA

Large fare-system supplier Cubic Transportation Systems was ahead on points over second-ranked vendor INIT after the first round of competition last summer for a contract to provide the Atlanta Rapid Transit Authority with a completely new fare system,...

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Cubic Reveals Organizational Chart of New Leadership Team Tasked with Getting Fare-Systems Vendor Back on Track

by Dan BalabanPosted on January 22, 2024 (March 26, 2024)Posted in Closed LoopTagged Cubic Transportation Systems, Editor's Choice

Cubic Transportation Systems president Peter Torrellas has recruited an expanded senior leadership team during his first 100 days on the job, including creating at least five new or revamped positions–as CTS seeks to recover its market stature, Mobility...

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Cubic Hires Another Fare-Industry Outsider for Senior Management, as It Seeks Turnaround

by Dan BalabanPosted on January 10, 2024 (January 22, 2024)Posted in Closed LoopTagged Cubic Transportation Systems

Cubic Transportation Systems has hired another transit fare-industry outsider to fill a senior leadership role, as the struggling U.S.-based vendor seeks to turn its fortunes around. Stephen Caldwell, formerly of large Dallas-based business and technology...

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Cubic Hires New ‘Chief Growth Officer;’ Replaces Head of Business Development

by Dan BalabanPosted on November 2, 2023 (January 6, 2024)Posted in Closed LoopTagged Cubic, Editor's Choice

Cubic Transportation Systems has hired a new “chief growth officer,” who will oversee business development, strategy and marketing, as the struggling fare-system supplier seeks to win more new contracts and hold onto its existing business, Mobility...

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Search Results for: veritas Capital

Tip Sheet: Layoffs at Cubic–Vendor Says It Amounts to Only 2% of Workforce but Won’t Release Figures; Insiders Say Cuts Taking Toll on Engineers, Others

Ratings Agency Warns of ‘Onerous Debt Burden’ for Cubic, but Says Vendor’s Transit Clients Shouldn’t Worry

Cubic Hires Former Vix Chief as Head of Business Development, Replacing ‘Turnaround Expert’ in Post

In-Depth: New York’s MTA Takes Away Part of OMNY Project from Cubic; Seeks Completion of Rollout by Close of 2025

Cubic Confirms It Outscored Indra on Technical Points, Despite Losing Big Contract in Ireland

Tip Sheet: Cubic Lays Off More Employees; Contends It Needs to ‘Become Leaner’ and More Competitive

‘It was Theirs to Lose’: A Look at Cubic’s Surprising Loss of Key U.S. Fare Project after Tight Competition with INIT

Cubic Reveals Organizational Chart of New Leadership Team Tasked with Getting Fare-Systems Vendor Back on Track

Cubic Hires Another Fare-Industry Outsider for Senior Management, as It Seeks Turnaround

Cubic Hires New ‘Chief Growth Officer;’ Replaces Head of Business Development

Wellington Plans to Launch Open-Loop Payments Next April–Refusing to Wait for New Zealand’s National Ticketing Solution

Insight: Paris Warms to Open-Loop Payments but Don’t Expect a London-Style Rollout

Electric Vehicle Market in U.S. Adjusts to Loss of Sales Incentives, Charger Subsidies

Evaluations Detail How Masabi Outscored Cubic and Kuba to Win Sacramento Contract

D.C. Transit Authority WMATA Releases Open-Payment Overlay Contract with Littlepay; Declines to Disclose Transaction Fees, including Interchange

D.C. Transit Authority WMATA Releases Open-Payment Overlay Contract with Littlepay; Declines to Disclose Transaction Fees, including Interchange

Tip Sheet: Layoffs at Cubic–Vendor Says It Amounts to Only 2% of Workforce but Won’t Release Figures; Insiders Say Cuts Taking Toll on Engineers, Others

In Harsh Response to Cubic’s Lawsuit, Transport for London Contends It Could have Rejected Vendor on Several Grounds

Maitland Out at Cubic; CTS President Montgomery-Torrellas to Take Over ‘Growth’ Position Himself

Cubic’s Recently Installed Head of Europe Departs Abruptly; Maitland Under Pressure