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DIVX Layoff 21 Staff To “Cut Costs”

Posted in Tech by Neil Koster on December 12, 2008

divx_logoThe San Diego based Video Codec Giant has laid off 10 percent of its staff  in an effort to counteract the loss of earnings it has suffered as a result of the breakdown of a two year deal with Yahoo to supply the Yahoo Toolbar and IE 7 with it’s bundled free software download.  DIVX stands to lose a considerable amount of its forecast revenue for the coming year and this failed deal, coupled with the subsequent  failed lawsuit against Yahoo to recoup some of the loss, left Divx with “no option” but to make the cuts.

Oh Well another giant in the industry takes advantage of the “Credit Crunch” to trim the fat.

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