More news of lay-offs in Seattle. TechFlash is reporting that RealNetworks is cutting 130 jobs representing roughly 7.5 percent of its worldwide staff – this includes thirty-nine in Seattle. According to a company spokesperson, RealNetworks cut the jobs “to get expenses in line with revenue.”
The laid-off RealNetworks employees will stay on until the end of the year, and will receive a cash severance package based on their years of service. They’ll also get six months of paid COBRA insurance, according to Hankes. He said that’s twice the amount that RealNetworks has paid in the past and attributed it to the bad economy.
After the cuts, RealNetworks will have 1,670 employees.