RealNetworks Cuts 85, 25% Of Executive Staff
Even after the recent spin-off of Rhapsody, RealNetworks continues to struggle. Today the company announced another round of layoffs that include 85 jobs or 6% of the total workforce. The cuts include 25% of its executives and will shrink offices in Europe, Asia and its Seattle headquarters. Real also consolidated its Technology Products and Solutions and Media Software and Services business units.
"This reorganization marks a significant milestone in our transformation of RealNetworks," according to Bob Kimball, president and acting CEO who replaced longtime head Rob Glaser just months ago."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."