TiVo to eliminate jobs, may cause US$1 mil. expense

Updated Thursday, November 20, 2008 11:13 am TWN, Bloomberg

TiVo to eliminate jobs, may cause US$1 mil. expense

NEW YORK -- TiVo Inc., the pioneer of digital video recorders, will cut an unspecified number jobs as part of an effort to reduce expenses. The action will result in costs of about US$1 million in the fiscal fourth quarter, mostly from the firings, Alviso, California-based TiVo said today in a regulatory filing. The company had 495 employees at the start of the year. Chief Executive Officer Thomas Rogers said in August marketing and manufacturing costs would increase in the third quarter ending Oct. 31 because of the holiday period.

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