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RealNetworks confirms job cuts, citing strategic adjustments
RealNetworks this afternoon confirmed that it's cutting 70 positions today, saying that the layoffs are taking place primarily within its Technology Products & Solutions and Media Software & Services groups. A little more than half of the cuts are in the United States, most of those at the company's Seattle headquarters.
The company is streamlining and "aligning the business for next year's expected revenues," said Bill Hankes, a RealNetworks spokesman, via phone this afternoon. At the same time, he said, RealNetworks is hiring in other areas of its business where it will be placing its biggest strategic bets. He declined to go into more detail on which areas the company will be emphasizing in the coming year.
Some employees in general and administrative functions also were laid off today.
Workers who lost their jobs will receive severance packages, help finding new jobs and six months of COBRA health coverage from the company. It's the second major layoff by RealNetworks in less than a year. The company, which employed 1,700 people prior to today's cuts, eliminated 130 positions last December.
Hankes declined to say which product teams were affected specifically. It appears that some teams within the affected groups were not impacted by the job cuts. In general, the overall Technology Products & Solutions group includes mobile products such as ringtones and other technology offerings. Media Software & Services includes such products as the SuperPass premium media subscription service and RealPlayer Plus.
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