OpenTV Corp., a maker of software for interactive television, will fire 315 employees, or about 47% of its work force, and close eight offices.
The company said it will save about $60 million a year after the cuts and expects to complete the measures, at a cost of about $29 million before taxes, by the end of the first quarter.
OpenTV in August said it no longer expected revenue growth in the second half and planned to reduce expenses by more than $20 million a year.
Liberty Media Corp., the cable-TV company run by John Malone, bought control of OpenTV later that month, and the new board urged deeper cuts, Chief Executive James Ackerman said.
