TiVo cuts 25 jobs in new plan
TiVo will lay off 25 workers, reduce spending on noncritical IT costs by nearly 50 percent this year, and dramatically reduce customer-service support costs per subscriber as part of its new operating plan.
The personal TV company reports strong growth in its subscriber base, however, and a new leveraged marketing plan with such partners as AOL and DirecTV.
The plan calls for reducing operating expenses by nearly 35 percent, part of the company's goal to eliminate the need for additional funding this fiscal year.
TiVo's cost-cutting measures are intended to decrease its cash-burn rate by about $60 million for the fiscal year ending January 2002.