TiVo has laid off its hardware team as the company continues to transition into cloud-based streaming services, while the home entertainment industry continues to evolve. The company didn't officially say the hardware staff was laid off, with company executives noted the employees were "reassigned," though didn't mention if they were given a new role.
"We continue to balance appropriate levels of staffing and expertise necessary to support our existing hardware business and continue our innovation in hardware platforms and accessories with the need to allocate resources where strategic growth opportunities exist - and there is no doubt that we expect growth in the cloud-based delivery aspects of TiVo's business," said Steve Wymer, TiVo VP of Public Relations and corporate communications.
During the 2014 Consumer Electronics Show (CES) in Las Vegas earlier this month, TiVo didn't announce any new direct-to-consumer products.
If TiVo is axing its hardware division, it's hard to imagine the company will continue on making set-top boxes and other hardware - even if company officials claim they plan to.