CEO John Edwards has not been replaced, the company tells Rayburn. Instead, Edwards has also been named executive chairman. The company is laying off 30% of its staff, and is “making the necessary adjustments and planning appropriately to get to profitability more quickly.”
A reader told us earlier that the company had canned 80 employees, including CEO Edwards and VP of Sales Robert Bryson. We don’t know how the 30% and 80 employees gel.
We haven’t yet been able to confirm this with Move Networks. (And we’ve tried! No one at Move Networks is answering the phone!)
Move’s clients include ABC, Fox, and the CW. Investors include Benchmark Capital, Hummer Winblad, Microsoft (MSFT), Disney’s Steamboat Ventures, and Televisa.
One bit of supporting evidence: This note on Twitter — “Just overheard: Move Networks in Lindon laid off half their workforce today – rumoured to be 75 people. That stinks!”