Streaming media specialist RealNetworks (NASDAQ:RNWK), which earlier this year rolled out a revamped media player targeted at the mobile video market, said it's cutting its workforce by about 10 percent, or 130 jobs, in an effort to simplify and restructure its operations as it tries to reduce costs.
The Seattle-based company says this move is the last in a series of job cuts, the previous one occurred in June when the company trimmed 85 positions, and that it will "span most geographies." Cuts will come in engineering, sales, marketing and administration and will result in a $3 million restructuring charge in 1Q2011. The company is set to release fourth quarter earnings Thursday.
"Our plan to simplify, restructure and grow is on track," claimed chief executive Bob Kimball in a follow-up statement. "While the process of restructuring is always difficult, we made substantial progress in 2010 in simplifying our organisation and restructuring to reduce costs. With an efficient foundation in place we are now focused intensely on growing RealNetworks."
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