Digeo to Ditch Products, Lay Off Half of Staff
Digeo, makers of the Moxi digital media recorder (DMR), said today it will reduce the number of products it creates, change its executive team — and lay off nearly half of the company.
Digeo will not release previously announced TV set-top boxes such as the Moxi Multi-Room DMR and the Moxi Home Cinema Edition DMR, but will continue to work on the next-generation Moxi box, as well as the Moxi HD DVR for cable.
Greg Gudorf, the company’s current president and COO, will replace Mike Fidler as Digeo’s CEO. The company is also letting go of up to half of its workforce, with layoffs to primarily affect positions that aren’t critical to the company’s new product direction.
Digeo was founded by Paul Allen in 1999 to deliver stock and sports information through set-top boxes. The company received $110 million in 2002, part of which was used to buy Moxi, a move that pushed Digeo into the video recording and downloading space.
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