Liberate Technologies Inc., a San Carlos, Calif.-based developer of interactive television software, plans to restructure and lay off almost a third of its workers over the next three months, the company said Monday in a securities filing.
The layoffs, which will mainly affect employees at corporate headquarters, will reduce Liberate's workforce by 119, to 250 employees. It's the third round of deep cutbacks for the company, which eliminated 180 positions in January and was in the process of cutting another 60.
A spokeswoman declined to comment on the layoffs or the restructuring. In the securities filing, Liberate said it expects to record a $3-million restructuring expense.
The changes come as a leading investor in Liberate, David Lockwood, prepares to take over as chairman and chief executive.
Shortly after taking over as CEO of his previous company, InterTrust Technologies Corp. of Santa Clara, Calif., Lockwood laid off much of the staff, suspended most operations and sold it to a consortium led by Sony Corp. and Royal Philips Electronics.