Grass Valley to shed quarter of its staff

Employees of Technicolor division Grass Valley staged a protest on March 31,2010 in Rennes, western France after the head of the company announced layoffs worldwide.

The announcement comes in the wake of rumours that Grass Valley will have a new owner at NAB 2010, which is scheduled to take place from April 10-14 in Las Vegas.

A detailed report from French newspaper Ouest France announced that Grass Valley will lay off a quarter of its total staff worldwide. The company presently employs a total of 2600 staff across 24 countries. 625 people will be made redundant, according to the report, of which the vast majority of lay-offs will take place in Europe.

An estimated 325 people in France and 50 each in Holland and Germany will lose their jobs while the rest of the cuts will be spread across other offices worldwide.

DPME.com was awaiting further comment from Grass Valley at the time of going to press.

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