Lagging equipment sales and dismal forecasts for a recovery by year end have prompted The Grass Valley Group to lay off 10 percent of its staff, nearly 70 people, a spokesperson confirmed.
A company memo began circulating this week informing employees of the decision, effective in two weeks.
Manufacturing will be hardest hit, while technical support and core research & development will not be affected, the company said.
The move follows a series of salary reductions at the company, including 10 percent pay cuts for management, this past summer. - Michael Grotticelli