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Machinima Lays Off 42

socalTECH

Los Angeles-based online content developer Machinima said Thursday that it has laid off 42 people at the company, all from its sales force, as the company continues to struggle with low ad rates and the large chunk of revenues that are claimed by Google from multi-channel networks. READ MORE>>.

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Elon Musk says Tesla Model Y will be revealed at its LA design studio on March 14

TechCrunch LA

Tesla will pull back the curtains and unveil its Model Y crossover vehicle at an event in Los Angeles on March 14th, according to a tweet from chief executive Elon Musk. Tesla said that to achieve this lower price it will shift all sales globally to online only, meaning the company will be closing many of its stores over the next few months.

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RealD Cuts Staff, Downsizes Facilities

socalTECH

Los Angeles-based 3D movie project technology developer RealD said this morning that it has cut its headcount, and will be downsizing its facilities, as part of a expense reduction move. According to RealD, the cuts include the elimination of certain sales and marketing and research and development expenditures.

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CyberDefender's Guseinov Steps Down, Firm Chops Staff

socalTECH

Los Angeles-based CyberDefender , the developer of Internet security software and remote technical support, said Tuesday that Chairman and CEO Gary Guseinov has resigned. Reason for the resignation was not disclosed, however, the firm said it has implemented a "strategic plan" to achieve profitability at the publicly held firm.

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Biotech Roundup: Hellos, Goodbyes, “Cures” Delays And Trial News

Xconomy

” —Company funding news: Tesaro (NASDAQ: TSRO ) of Waltham, MA, said it took advantage of positive Phase 3 data to raise $409 million in a secondary stock sale…Protagonist Therapeutics, based in Milpitas, CA, has filed for a $75 million initial public offering. —Enough good trial news. —In other Merck news, U.K.-based

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