Seattle
– RealNetworks (NASD: RNWK), the provider of media delivery technology, announced on Tuesday
a reorganization of its business and operational structure, which will see the company
cut 85 positions and consolidate its Technology Products and Solutions, and
Media Software and Services business units. The company said the layoffs
included about 25% of its executive ranks, adding that those cuts were made
"to reduce the spans and layers of management to create greater
efficiency, teamwork and customer focus."
The company will also reduce its
office space in Europe and Asia, as well as at its Seattle headquarters.
Real expects the reorganization
will compel it to record charges of $10 million.
"This reorganization
marks a significant milestone in our transformation of RealNetworks," said
Bob Kimball, president and acting CEO of Real.
"Restructuring RealNetworks
into functional groups creates a far more efficient organization focused on
developing great products that can be delivered through any of our distribution
partners."
Related Links:
http://snipurl.com/xnxdc
