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SONICblue Cuts Workforce By 25%

9/06/2002 08:03:00 AM Eastern

Santa Clara, Calif. - SONICblue yesterday eliminated 25 percent of its workforce, including several executives, and is consolidating certain business units in its headquarters here.

Roger Hacket, senior vice president of sales, and Andy Wolf, chief technology officer, were the two executive level victims of the cut. Interim CEO Greg Ballard said all of the company's audio business based in Tigard, Ore. and part of the Scottsdale, Ariz. operation would be shifted to Santa Clara.

'This was a difficult decision for everyone involved, but is an important step in our drive towards improved financial performance. We are eliminating redundancies and recognizing synergies within the organization wherever possible, which we believe will allow us to significantly decrease our cost structure,' Ballard said.

This is the company's second restructuring maneuver in less than a month. In early August the company's board of directors, which makes the Rio MP3 player and Replay PVR, fired former CEO Ken Potashner.

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