Real Networks Next Up in Layoff Sweepstakes

(MoneyWatch)  Real Networks said today that it informed 130 employees, or 7.5 percent of its worldwide workforce, that their positions would be eliminated at the end of year. In a post on the company's official blog, the company said the layoffs were part of a larger cost cutting plan that "is intended to bring expenses in line with current and prospective economic realities."

The company said it still expects to report record revenue for the year but, to stay healthy, it needs to get costs in line with revenue expectations. Bill Hankes, vice president for Real Networks' Corporate Communications, wrote:

The people who are losing their jobs will have time to transition their work through the end of the year. No one is being shown the door today. Departing employees can conduct job searches for other positions at Real or elsewhere from their offices here, or, if they prefer, from home. Everyone will remain on the payroll through the end of the year, plus each will be offered a cash severance package based on their length of service. Because of the unusual and difficult economic times, these severance packages include outplacement services and six months of COBRA healthcare coverage.

Sam Diaz is a senior editor at ZDNet. See his full profile and disclosure of his industry affiliations. This post first appeared on ZDNet's Between the Lines blog.