Hit by the meltdown in the technology sector and the sour economy, TechTV
laid off 130 employees Friday, according to officials.
The layoffs, at headquarters in San Francisco and its New York office, will
affect all areas of the network, which covers technology information and
news.
TechTV, which reaches 28 million homes, is owned by Paul Allen's Vulcan
Ventures Inc.
TechTV is also cutting back on live original programming, which will drop to
six-and-a-half hours per day from 11, according to Alyssa Donelan, senior
director of corporate communications.
Donelan would not say how many employees TechTV has in total.
'The business changes we need to make are difficult and reflect the volatile
economy we are all faced with,' TechTV chairman Larry Wangberg said in a
prepared statement.
'We must focus on what is best for our business success, while at the same
time do our best to have the least possible affect on our associates,' he added.
'We are confident that TechTV will continue to provide its customers with the
unique programming they value and expect from us.'
