TMCnet News
RealNetworks Announces Job Cuts(MarketNewsVideo.com Via Acquire Media NewsEdge) RealNetworks announced a reorganization, including job cuts, late Tuesday. The digital entertainment software company said it has reorganized into two consolidated units, Technology Products and Solutions and Media Software and Services. The company's acting CEO said the two functional units create a more efficient organization. As a result of the overhaul, RealNetworks is cutting 85 jobs, including 25% of its executives. The company also reduced its office space in Europe, Asia and at its Seattle headquarters. RealNetworks, which competes in various areas with some of the biggest tech firms like Apple (AAPL) and Microsoft (MSFT), said it will take $10 million in restructuring charges in its current fiscal quarter. The preceding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=201006REAL062310&mv=1. |