Noting reduced spending in the industry, RealNetworks Inc. Thursday outlined a restructuring plan that the company hopes will return it to a position of overall growth.
As part of the plan, RealNetworks will reduce its workforce by 90, more than 10 percent of the approximately 800 employees. Although no changes were announced to the company's financial guidance, RealNetworks does expect to generate US$4-6 million in restructuring charges.
"The impact of the ongoing turbulence in the telecommunications industry and the weak capital spending environment on our systems business has caused us to step back and thoroughly review our strategy and operations," said Rob Glaser, Chairman and CEO, RealNetworks Inc. in a statement tonight.
The company also announced several other initiatives including refocusing the company's systems business around the recently announced Helix Community Platform and Helix Universal Server; Continuing to drive the company's consumer business around the growth of RealOne; and Reorganizing the company's International operations around each of the company's two main lines of business -- systems software and consumer.