OpenTV Announces Reorganization, Layoffs

Interactive television company OpenTV plans to revamp its global operations in order to reduce expenses, focus on its recent Wink Communications acquisition and economically improve its position in the cable and satellite industry.

In addition to the 60 layoffs already announced two weeks ago, OpenTV estimates that 315 more will follow, a figure that represents 47 percent of its workforce. In addition the company will also close eight regional offices.

OpenTV and Wink, which will remain a separate subsidiary, reach approximately 35 million households worldwide, with 60 cable and satellite operators in more than 50 countries.

OpenTV expects the reorganization to be completed by the end of the first quarter of 2003.