Vudu trims 20% of workforce
Move part of a larger restructuring as company pursues new retail channels
By Susanne Ault -- Video Business, 8/26/2008
AUG. 26 | Vudu has cut about 20% of its 100-person workforce, near the same time the digital movie service hired new chief financial officer Chris Watts.
A spokeswoman for the company said the moves are part of a larger restructuring of Vudu’s resources as it goes after new retail channels. Patrick Cosson, Vudu’s VP of marketing, is among those no longer with the company.
Watts was named to his post at Vudu on Monday.
Vudu has long been challenged by rival product Apple TV, which enjoys a bigger brand presence and similarly beams programming to TV sets via broadband connections without the need for a computer. Earlier this year, Vudu succeeded in expanding its retail footprint at Best Buy stores in the hopes of battling Apple and other digital movie services.
"It is the normal course of business for fast growing startups to align resources to meet market opportunities,” a Vudu spokeswoman said. “We are focusing on expanding distribution in retail as well as specialty A/V partners and on broadening our product offering. We are aggressively hiring to support our market and product line expansion. We will continue to be aggressive in aligning resources to drive growth and to meet our business objectives."
Earlier this month, Vudu cut its download rental price for 99 titles to 99¢ for standard-definition and $1.99 for high-definition, citing the soft economy.
