RealNetworks cutting 7.5 percent of workforce |
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RealNetworks cutting 7.5 percent of workforce
RealNetworks is cutting 130 jobs representing roughly 7.5 percent of its worldwide staff, the company said today.
Thirty-nine of the layoffs are in Seattle, said company spokesman Bill Hankes.
RealNetworks cut the jobs "to get expenses in line with revenue," Hankes said.
"We think the company is better positioned than some in this economy, but we are certainly not immune," he said.
Hankes denied an earlier report on the website Gawker that Rhapsody America, a joint venture between RealNetworks and MTV, closed down its New York office and moved to Seattle.
Hankes said some layoffs occurred at the Rhapsody office in New York but said the office won't close.
The laid-off RealNetworks employees will stay on until the end of the year, and will receive a cash severance package based on their years of service. They'll also get six months of paid COBRA insurance, according to Hankes. He said that's twice the amount that RealNetworks has paid in the past and attributed it to the bad economy.
After the cuts, RealNetworks will have 1,670 employees.
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