More layoffs today at DivX, the publicly traded video codec supplier that recently sued Yahoo over canceling a contract that makes up as much as 20 percent of its revenue. According to a tip that came into our Layoff Tracker, 21 people were let go. I just confirmed that until-now unannounced number with DivX investor relations. It represents just under 10 percent of the workforce in San Diego, where DivX is based (although there were some cuts globally as well).
Its stock is trading under $5, about a third of where it was a year ago.
This follows the resignation of its CTO Markus Moenig earlier this month. And some readers may remember the drama surrounding DivX’s shutdown of its video site Stage6 back in February.
Keep those layoff tips coming.
We’re in San Diego and need help with some web dev, anyone from DIVX (well not anymore) with these skills should contact me at
Cliff@everythingstartup.com
Thanks TC
Grab up people who weren’t quite good enough to work at DivX.
You’ll go far!!!
You don’t save money that way.
Roll out a 401k, no deductible health and dental, then throw stuff on top, and put an ad in craigslist.
Good IT people don’t want that insecurity. I know I work around them.
$$$$$$$$ == awesome people
You can’t save on human resources.
Why so many layoffs right before Christmas? Fuck.
Screwing the little guy in America comes as no surprise at all.
Layoffs in Christmas is the best time as most companies (investors) are too busy preparing for vacations and closing-up shop. Better a layoff (with compensation) than straight bankruptcy.
It also presents a huge opportunity for employees to start the new year fresh. I think it’s the BEST TIME!
Jon
http://blog.legendarylife.com
Probably because these companies are looking to 2009 already. It sucks for their employees that are being let go though :/
Peter
http://www.thewebwar.com
Timing is awful but reason (beyond timing of credit crunch) is corporate planning. You finish your 2009 plan sometime in late 2008 … if 2009 looks worse than expected … that’s when people take action …
By chance Jon…do you live in a place where everything is mickey mouse shaped?
Losing a job is a huge opportunity.
Losing a job during Xmas, when you get to meet friends and relatives to spread personally the *good news*..oh, definetely is the best of times.
So cool…
Then you’ll be glad if i wish you to loose your job as soon as possible!
…and merry Xmas of course…
Which do you prefer Trent?
A) get a message on your office door in January AFTER you bought everybody Christmas presents saying “we are now insolvent” and everybody is out a job.
OR
B) get a pink slip BEFORE you fill-up your credit cards and the company remains viable.
If it takes a job loss to realize that there is more to life than working for somebody else, then I believe it’s a huge opportunity and a blessing in disguise. Jobs should be treated as a “bonus”, not something to dedicate your life or resources towards during your best years.
Jon
http://blog.legendarylife.com
Maybe they’d be better off had they stuck with Stage6 or sold it off?
It was the best site that is no longer … stream the latest movies in almost DVD quality.
Guess it was too good to be true.
san diego based nirvanix also recently laid off 15 – including the ceo.
http://www.tech...comment-2559436
cool
I wonder what % of the remaining DivX employees have an MBA? Too many cooks in the kitchen results in lack of decisions…i.e. Stage6!!! Or is it just ego’s? Aside from the layoffs, a lot of good people have left over the past year…do the investors ever wonder why? Wait, the stock price is below $5…they can see through all the fluffy PR released.
people are seriously desperate.
http://www.plea...isitmysite.com/
I completely agree to Mark, too many cooks spoil the food. We have experienced ego issues in top management levels in corporates while offering our interim management jobs to various of our clients. I wish if while working for a company an getting paid by the company for your bread and beard, we could leave everything else aside. Possible??
I dont see a point in getting a news of being jobless no Christmas. No company plans for a month of 2. They always plan for a couple of months in advance. It is better to inform people about their termination atleast 2 months before christmas or 2 months after christmas. What say Jon? Payroll Policies should be made for this.
Alis
Also, all of us should tighten our belts, fold our sleeves and be ready with our savings. We all know that none of us are safe in this world wide slow down. We can try to escape as long as possible but still can not be sure to have a safe job forever.. atleast till the recession lasts.
Alis
HR Policies