RealNetworks cuts 12 more jobs, or 9 percent of its music division |
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RealNetworks cuts 12 more jobs, or 9 percent of its music division
One week after a tough earnings report, RealNetworks today moved to further reduce its expenses by cutting 12 more positions, totaling 9 percent of its music division, a spokesman confirmed this afternoon. The latest layoffs follow the elimination of 130 jobs last year, and a smaller round of cuts a couple months ago.
The jobs cut today involved employees of RealNetworks and its Rhapsody America joint venture with MTV Networks. The layoffs represent about a half-percent of the company's overall workforce, said Bill Hankes, a RealNetworks spokesman. He said the company is putting greater emphasis on its mobile and web businesses, and reducing the resources it's putting into editorial projects and PC client software.
The cuts come despite the fact that music was the only one of the company's main business units to see an increase in revenue in the second quarter, rising 9 percent to more than $40 million. Revenue in the company's games unit and media software and services business declined by 15 percent and 34 percent, respectively.
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