“RealNetworks [RNWK] has commenced layoffs of seven percent of its workforce,” Electronista reports.
“An additional seven percent may follow in the coming months. The moves are part of interim CEO Rob Glaser’s plan to reduce costs by $45 million as rapidly as possible,” Electronista reports. “The first wave of employees involved in the layoffs were notified today, and the second batch have been notified that their current positions will not be renewed at the completion of work, and they may be reassigned elsewhere if financial conditions improve.”
Electronista reports, “Real is expecting a loss between $9 million and $12 million for the third quarter.
Read more in the full article here.
MacDailyNews Take: Finally running out of Microsoft’s settlement money, Glaser? Tsk, tsk.
(Yes, we’re amazed that RealNetworks even had 80 employees left, much less slightly over 1,000 before these cuts. 1,060 minus these 80 will take headcount down to 980 cubicle dwellers.)
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I didn’t realize there were 80 jobs left at Real. Good riddance.
What do they even do these days?
They push Google Chrome in their downloads. I guess Google pays them something for that.
Funny I even saw an ad for Real Networks at some websites when I was surfing. I am shocked they are still in business.
Now, Now.
Every time AAPL hits a new high and MDN reports it and includes a list of the market caps of other tech companies, there’s RNWK at the bottom of the list. It seems RNWK has been holding steady at 0.28 Bn for some time now.
From 2 days ago:
Looks like resorting to hacker techniques 8 years ago was the only business plan that they had.
O_O Real Networks still exists?
What do they do? I mean, no one cares about their media formats or media players… Seriously, I thought they were shut down or sold years ago.
——RM
I remember shorting rnwk back in the day. That sure was fun.
Must be a money laundering outfit.
I can’t imagine the Real Player makes much money these days.
Rhapsody and Real Arcade are the only things I can think of that would pull in revenue. Well maybe NASCAR Trackpass and Big Brother seasonal streaming if they even offer those these days.
their profit stream has come from the selling of their remaining patents to Intel.
now the plan is to be an Android developer. why, i have no idea.
:::buffering:::
140 people made $45 million?!? Damn, I need me a RealNetworks job!!
Glaser is a pig. His 15 minutes of fame is way over. Goodbye!
No guile or hostility, but they are still around? Since Flip4Mac and Perian, I haven’t had Real Player on my computers, or installed or recommended it to friends for many years.
Sincere best wishes to the ousted employees, I wish them and their families well, with a speedy, well paying, and rewarding new job. Both for employees of Real, Dunkin’ Donuts, and Krispy Cream