Printed from http://www.electronista.com

RealNetworks cost-cutting continues, 80 people laid off

updated 12:20 am EDT, Wed August 29, 2012

Another 80 people notified of potential job loss

Digital media streaming vanguard RealNetworks has commenced layoffs of seven percent of its workforce. An additional seven percent may follow in the coming months. The moves are part of interim CEO Rob Glaser's plan to reduce costs by $45 million as rapidly as possible. The first wave of employees involved in the layoffs were notified today, and the second batch have been notified that their current positions will not be renewed at the completion of work, and they may be reassigned elsewhere if financial conditions improve.

An email company-wide from Glaser said that soon he would "have a lot more to say about our collective assessment of our businesses & new initiatives, and about our go forward strategy. Specifically, we have scheduled a series of company meetings -- both in Seattle and at our main offices around the world -- for on or around September 6th. After these meetings I believe that each of you in attendance will walk away with a clear understanding of our strategies and excitement regarding where we're going."

RealNetworks' financial data from the most recent quarter was released on August 8, and showed a profit of $81 million dollars, but that profit included a sale of patent assets, including the core RealPlayer codec, totaling $121 million dollars. Real is expecting a loss between $9 million and $12 million for the third quarter.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

  1. myramoki

    Fresh-Faced Recruit

    Joined: 07-22-04

    These guys are still in business???? I think their 'go forward strategy' needs to be to close shop and move on to something else that actually has a chance of making any money.

  1. coffeetime

    Mac Enthusiast

    Joined: 11-15-06

    When it comes to streaming media now a day, YouTube takes the throne.

  1. Mr. Strat

    Junior Member

    Joined: 01-23-02

    Sorry that people are losing their jobs, but Real just needs to die off and go away. RealPlayer screws up both Windows and OS X, and thankfully, the amount of Real content out there has rapidly decreased. Unfortunately, there's still some out there.

  1. hayesk

    Professional Poster

    Joined: 09-17-99

    As long as I can remember, RealNetworks' only purpose was to distract Microsoft in the QuickTime vs WMP battles in the late-90s. Did they ever offer a service useful to consumers?

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Adesso Compagno X Bluetooth keyboard

The shift from typing on physical keyboards to digital versions on smartphones and tablets hasn't been an easy for many consumers. Fro ...

Sponsor

toggle

Most Commented

 
toggle

Popular News