InterTrust Technologies, a digital rights management software maker, this week announced plans to lay off 12 percent of its work force in an effort to reduce costs. The Santa Clara, Calif.-based company on Thursday reported a second-quarter loss of $17.2 million, or 18 cents a share, compared with a loss of $9 million, or 20 cents a share, a year earlier. The layoffs come as the company struggles with the continued slowdown in technology spending and competition from companies offering similar products. "In the second quarter, our revenue continued to be hurt by the economic climate as well as the conversion to our new technology platform," Greg Wood, chief financial officer of InterTrust, said in a statement.
InterTrust is embroiled in a lawsuit against Microsoft. In that suit, InterTrust claims the software giant's anti-copying technology used in its music and video software violates InterTrust's patents.