RealNetworks has cut nine employees at its Seattle headquarters as the streaming media and gaming company continues to transition under the direction of founder Rob Glaser.
A spokeswoman confirmed that the cuts occurred in Seattle and impacted nine people, and noted that they were tied to “changes in the marketplace,” but had few additional details.
The cutbacks come about a year after RealNetworks laid off 85 staffers, roughly about 10 percent of its staff.
At the time of last summer’s layoff, RealNetworks employed 765 people.
“Transitioning Real from a focus on our legacy businesses to a company driven by our new growth initiatives is a hard process,” Glaser said at the time. “Sometimes the transition isn’t as smooth as we wish were the case, and this is one of those times. Having said that, our board, our senior management team, and I all believe that we are on the right track with our new initiatives.”
In May, RealNetworks unveiled a new app called RealTimes that automatically takes photos and videos from a smartphone, and then turns them into interactive short video montages.
The company also missed its revenue numbers during the first quarter with annual revenue of $30.6 million. Wall Street expected revenue of $32 million. The company reported a net loss of $24.5 million for the quarter.
RealNetworks, whose stock is down 22 percent this year, is now valued at $192 million. Glaser returned to Real as interim CEO in July 2012, and then officially re-took the reins of the company in July 2014.
The company’s primary lines of business are its RealPlayer Group, Mobile Entertainment and Games, under its GameHouse brand