"In an effort to reduce costs, we made the difficult decision to lay off some of our staff in Boston and New York. We are continuing to conserve resources while we chart our path forward. We are grateful to our employees for their loyalty, hard work and dedication. This was a difficult, but necessary step in order to preserve the company. We decline to comment further," said Aereo VP Virginia Lam.
The recent decision for more layoffs comes following a federal judge ruling that placed a full injunction on the company to operate as a TV service.
Aereo was effectively shut down a few months ago following a Supreme Court decision that ruled it violated copyright by offering OTA streams of broadcast channels without paying retransmission fees through thousands of tiny antennas. The company has been trying to resurrect operating as a cable company or as a standalone DVR company.
The clock is ticking, however, as the company cannot raise any more money and all revenue has dried up after the shut down.
Source:
GigaOM
Written by: Andre Yoskowitz @ 7 Nov 2014 14:12
