Further digesting its acquisition of Wink Communications Inc., OpenTV Corp.
announced that it will lay off 315 employees, or 47 percent of its total work
force, in a global restructuring aimed at driving toward profitability.
The reductions will be completed by the end of first-quarter 2003 and save
the company $60 million annually, while reducing its cash-burn rate to $48
million per year.
The company expects to take a $29 million pretax restructuring charge, of
which $20 million is cash obligations.