RealNetworks cutting 70 jobs |
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RealNetworks cutting 70 jobs
RealNetworks is expected to cut another 70 jobs today, the latest layoff announcement in what's turning out to be a tough week for employees at some of the Seattle region's better-known technology companies.
This latest round at RealNetworks has been rumored for weeks. We're hearing from our sources that affected employees at the Seattle-based digital media company are expected to be notified today. The cuts will hit about 4 percent of the company's 1,700 employees. Kara Swisher at AllThingsD.com reported the news last night.
No word yet on which groups have been affected most, but we'll post more details as they're available. It looks to be the biggest round of job cuts at the company since its layoff of 130 people nearly a year ago.
RealNetworks last week posted its first quarterly profit in more than a year, but it was a slim one, and cost-cutting was a major factor in moving the company back into the black. Revenue for the quarter was $140.3 million, down 7 percent from the same quarter a year earlier.
The job cuts at RealNetworks follow Microsoft's layoff of 800 employees yesterday. United Online's Seattle-based Classmates.com unit this week cut 71 employees, or 17 percent of its staff.
Follow-up: RealNetworks confirms job cuts, citing strategic adjustments
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