Cyberbiz Brief

Online music software and services company Liquid Audio said Tuesday that it will lay off 40% of its work force — 78 employees out of 195 — in an effort to stay afloat through a stormy market. The Redwood City-based company said it will reduce its staff across all departments and merge its three offices into one location.

“We have restructured the company to more effectively address the technological needs of this marketplace,” said Gerry Kearby. “Accordingly, the company is de-emphasizing its efforts in noncore business areas, including kiosks and other micro-businesses.” It will now focus on digital subscription.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0