wpostServer: http://css.washingtonpost.com/wpost
Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery 04.23.2014
    On today’s show the guys talk about Amazon’s newly announced deal with HBO and what it means for the site. Plus they talk earnings from Intuitive Surgical, Yum! Brands, and more.
  • MarketFoolery: 04.22.2014
    Netflix rises on strong 1st quarter numbers and a well-executed price increase.  Valeant Pharmaceuticals makes a $45 billion bid for Allergan.  Plus, we analyze the latest results from McDonald’s and the new “Pay To Quit” program at Amazon.
  • MarketFoolery: 04.21.2014
    Hasbro shares rise on 1st-quarter profits.  LinkedIn tops the 300 million member mark.  And we dip into the Fool Mailbag to discuss the prospects for Airbnb’s potential IPO.
Capital Business
Posted at 06:32 PM ET, 03/12/2013

Rosetta Stone to cut 64 jobs in Virginia

Rosetta Stone, the Arlington-based foreign language software company, said Tuesday it will eliminate 64 jobs in Virginia as part of a move to open offices and add employees in Austin and San Francisco.

Executives said the shift reflects a broader change in the company’s technological needs as it delivers more of its interactive software to foreign language learners on the Internet rather than discs.

“By opening offices in Austin and San Francisco— hotbeds for technology with deep talent pools—we are attracting some of the country’s best developers and designers to help us strengthen our platforms and bring innovative new products to market,” chief executive Steve Swad said in a news release.

Those offices are expected to hold a combined 100 employees, the company said. The firm also has product and technology hubs in Harrisonburg, Va., Boulder, Colo., and Arlington.

“The Austin and San Francisco operations represent part of our investment in new platforms and technologies, and the positions in those offices are therefore fundamentally different from those we eliminated today,” said spokesman Jonathan Mudd.

“Some current employees with the appropriate skillsets are indeed relocating to the new offices, but most of the roles there are being filled by new individuals with experience and know-how to support our evolving strategy,” he added.

The company intends to launch its first product for children later this year, as well as intermediate and advanced programs for English language learners, the statement said.

Rosetta Stone counts 1,500 employees who work in offices as far flung as London, Tokyo, Dubai and Sao Paulo.

Follow Steven Overly on Twitter: @StevenOverly

By  |  06:32 PM ET, 03/12/2013

 
Read what others are saying
     

    © 2011 The Washington Post Company