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KIT Digital (KITD) is cutting 22% of its workforce in order to save about $40M annually. The...

  • Monday, September 17, 2012, 8:02 AM ET
    KIT Digital (KITD) is cutting 22% of its workforce in order to save about $40M annually. The company, which enables clients including Google, H-P, Disney-ABC and the BBC to distribute video across multiple devices via the cloud, has yet to make a profit and recently named a new CEO, CFO and CTO.
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    Seems like they are getting serious about this as an actual long-term business. Given the # and pace of acquisitions there, clearly some fat that could be trimmed.
    17 Sep 2012, 09:09 AM Reply Like
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