Streaming media company RealNetworks on Thursday eliminated 130 jobs, or 7.5 percent of its global staff.
The layoffs, not surprisingly, are being chalked up to the floundering global economy. Still, Real insists that it has not been as hard hit as other companies.
“The layoffs, in addition to other cost cutting measures, are part of a budgeting process that is intended to bring expenses in line with current and prospective economic realities," Real vice president Bill Hankes wrote on the company's blog. “While our business has not been affected as much as many others, we aren't immune to what's going on in the broader economy."
The layoffs, not surprisingly, are being chalked up to the floundering global economy. Still, Real insists that it has not been as hard hit as other companies.
“The layoffs, in addition to other cost cutting measures, are part of a budgeting process that is intended to bring expenses in line with current and prospective economic realities," Real vice president Bill Hankes wrote on the company's blog. “While our business has not been affected as much as many others, we aren't immune to what's going on in the broader economy."
