Grass Valley Group parent firm cutting 625 jobs |

Grass Valley Group parent firm cutting 625 jobs

The parent firm that owns the old Grass Valley Group announced it was cutting 625 jobs worldwide Wednesday, with no indication how it would affect its approximately 300 employees at the Nevada City campus.

The French newspaper, Ouest-France, said most of the Grass Valley division job cuts would take place in Europe, but that all major sites would be affected worldwide.

About 327 jobs will be lost in France, with others being eliminated in Germany and the Netherlands, the paper said.

The Grass Valley division of Technicolor has about 2,500 people in offices spanning the globe, according to a news release issued by the parent firm.

Technicolor said the layoffs were caused by a 31 percent decline in revenues since 2008, when television advertising revenues dipped and orders for Grass Valley broadcast equipment fell accordingly.

For the full story, see Thursday’s edition of The Union.

To contact Senior Staff Writer Dave Moller, e-mail or call 477-4237.

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