RealNetworks Cuts 85 Jobs

6/22/10

Seattle-based RealNetworks (NASDAQ: RNWK) said today it is cutting 85 jobs, and eliminating one-fourth of its executive management positions. The reorganization is part of Real’s new strategy to do what it calls “simplify, restructure and grow.”

“This reorganization marks a significant milestone in our transformation of RealNetworks,” president and acting CEO Bob Kimball said in a statement. Restructuring into functional groups will bring more focus on developing new products, Kimball said.

Thea Chard is a correspondent for Xconomy Seattle. You can e-mail her at theachard@gmail.com or follow her on Twitter at http://twitter.com/theachard. Follow @

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