Aug 29, 2014

Intellectual Ventures Cuts 19 Percent of Staff in Second Layoffs This Year

On Tuesday, IV sent a memo to its workers, notifying them of the cuts. The company has been employing 700 people, which means about 140 will be let go. “We are making operational changes that are consistent with this reduction and will enable us to maintain and expand our leadership in the market for invention,” the company said in a statement. “Our assets—both people and intellectual property—are among the best in the industry.” Now, let me try to translate that.


Intellectual Ventures Layoffs Hit a Fifth of Its Workforce - Businessweek
Saying the cuts are part of the company's technological evolution, Intellectual Ventures just laid off about a fifth of its workforce