SeaChange reduces workforce to reduce costs

Video-on-demand technology company SeaChange has announced that it has reduced its workforce in a move that will result in over US$5 million (€3.8 million) in annualised cost reductions.

SeaChange CEO Raghu Rau said, “As we realign our resources to focus on delivering on customer commitments, we have targeted operating cost reductions as well as some facility rationalisation. It is important to note, however, that our commitment to research and development remains strong and we continue to invest heavily in innovative, next generation solutions that will provide significant competitive advantage to our customers.”