TechTV will cut 130 jobs and restructure, it says. Citing current market conditions, particularly in the technology industry, the company says the cuts will come from all areas of the company, effective immediately.
The changes "reflect the volatile economy we are all faced with," Chair and CEO Larry Wangberg says in a statement. "We must focus on what is best for our business success, while (doing) our best to have the least possible effect on our associates." Wangberg says the company will grow to "be a fully distributed network."
The company, formerly ZDTV, is owned by Vulcan Inc. and provides 24-hour cable programming. It's presently available in more than 28 million households, it says, and distributes to 70 countries.