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RealNetworks CEO On Mass Firings, Canceled Holiday Party

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Dec 5, 2008 

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Kathleen  |

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RealNetworks CEO On Mass Firings, Canceled Holiday Party

ADOTAS – RealNetworks let go of about 7.5% of its staff this week. In an SEC filing, the company wrote that “slowing consumer and business spending” was the culprit – but added that RealNetworks “expects to achieve record revenue for full year 2008.” Let us know how that works out, guys!

AllThingsDigital snagged a copy of an internal memo from Rob Glaser, RealNetworks’ founder, chairman and CEO, in which he explains the move, which offices it will affect and the company’s plans for the future (which include, incidentally, canceling the company’s holiday party).

Here it is, in part:
Team –

I’m writing to share some important but not happy news.

Today, we’re implementing a reduction in force affecting about 130 employees, representing about 7.5 percent of the company’s work force. This is a world-wide initiative; about one-third will be in Seattle, approximately another third in other U.S. locations, and the rest outside of the U.S. This is roughly proportionate to the overall number of people we have in each region. All divisions are affected in varying degrees.
Many of the reductions are a result of consolidations of operations of companies we’ve acquired in the past year or so that are being integrated with other parts of our business.

We also have looked across the company to integrate similar functions and groups to achieve better efficiency.

Having said that, this is also a reflection of the economy. While our business has not been affected as much as many, we are not immune to what’s going on in the wider economy. In addition to these staff reductions, we’re also tightening our belt in other ways–watching travel expenses even more closely, for instance, and canceling the Seattle HQ holiday party. …

I’ll have more to say at our next company meeting early in 2009. Until then, take care.

Rob

– Express your opinion, comment below.

Tags: finance, interactive-advertising, internet-advertising-jobs and realnetworks

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