RealD Cuts Staff, Downsizes Facilities

Los Angeles-based 3D movie project technology developer RealD said this morning that it has cut its headcount, and will be downsizing its facilities, as part of a expense reduction move. According to RealD, the cuts include the elimination of certain sales and marketing and research and development expenditures. The number of employees who will be affected by the cutbacks were not disclosed by the company. According to the company, the moves will save it around $30M in expenditures over a two year period. The company said the move is part of an ongoing effort to streamline its organization and introduce "additional efficiencies" into its cost structure.