Interactive TV firm Ensequence laid off an unspecified number of employees last week, citing the need to cut "internal initiatives that the market doesn't value."
The layoffs were reported last Thursday by The Oregonian. Ensequence confirmed it went through a round of job cuts but would not divulge specific numbers, including its current head count.
"Over the past 12 months, we have gained exceptional clarity regarding the ITV products and solutions the market needs and values," the company said in a statement e-mailed to Multichannel News. "With that clarity, we have been able to pare back on internal initiatives that the market doesn't value and, in turn, focus our resources on the defined needs of our customers."
Ensequence, based in New York with offices in Portland, Ore., would not say specifically what initiatives it cut back. In 2009, it announced plans for an ambitious "cradle-to-grave" solution that would let programmers and operators track and manage ITV apps through their whole lifecycle.
Last summer Ensequence laid off about 10 people last summer and had about 100 employees at the time, according to the Oregonian.
Ensequence in September raised an additional $20 million in funding and appointed Peter Low, formerly its president and chief operating officer, to the position of president and CEO. Dalen Harrison, former CEO of Ensequence, will remain on the board of directors and will "continue to develop new business opportunities," the company said.
Ensequence's customers include MTV Networks, NBC Universal, ESPN, Major League Baseball Advanced Media, Comcast, DirecTV, Dish Network and Verizon Communications.