403 Forbidden


nginx
403 Forbidden

403 Forbidden


nginx
Follow us:
403 Forbidden

403 Forbidden


nginx

Brier Dudley's blog

Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

December 4, 2008 at 2:11 PM

Glaser memo on Real cuts: no holiday party, either

RealNetworks Chief Executive Rob Glaser told employees the company is taking steps to help workers being laid-off in rough economic times, such as extending their Cobra medical coverage.

The company’s also doing other things to cut costs and won’t be having a holiday party this year.

The memo:

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.

Because of the unusually difficult economic environment, we’re taking

extra steps to help affected employees. For instance, every

affected staff member in the U.S. will receive six months of Cobra

healthcare coverage, which is double what we have done in the

past. We’re making similar adjustments internationally.

Despite the changes being made today, which I and the rest of the

management team deeply regret, the company is well positioned to

weather the current economic storm. As per our last earnings call,

we expect to achieve record revenue for the year, and we still see

opportunities for growth and investment across the business. In

order to stay healthy, we need to get our costs in line with the

business as it looks today. This will enable us to continue

investing in the areas that set us up for growth and success in the future.

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

then, take care.

Rob

Comments

COMMENTS

No personal attacks or insults, no hate speech, no profanity. Please keep the conversation civil and help us moderate this thread by reporting any abuse. See our Commenting FAQ.



The opinions expressed in reader comments are those of the author only, and do not reflect the opinions of The Seattle Times.


403 Forbidden

403 Forbidden


nginx
403 Forbidden

403 Forbidden


nginx