Aereo is closing down its Boston office and laying off 43 employees next Wednesday.
The company notified employees in the office with a letter sent out Thursday. An Aereo representative told Fast Company it still employs about a dozen executives who are based in Boston and New York. Some employees in Boston will stay on to help “wind down the business,” according to the letter.
“In an effort to reduce costs, we made the difficult decision to lay off some of our staff in Boston and New York,” said Aereo’s senior vice president of communications and government relations Virginia Lam in a statement. “We are continuing to conserve resources while we chart our path forward. We are grateful to our employees for their loyalty, hard work and dedication. This was a difficult, but necessary step in order to preserve the company.”
In June, the Supreme Court ruled against Aereo, which charged customers $8 a month to retransmit television broadcast signals to the web, saying it was in violation of federal copyright held by broadcasters. “We did try, but it’s over now,” Barry Diller, one of the company’s most vocal investors, said shortly after.
In October, a federal court in New York handed the company an injunction, deterring potential white knight investors. “It is now clear, that at this time we are unable to obtain additional funding that would prevent the need to close our operations,” the company said.AT