Tuesday, December 10, 2013

Outerwall Chops 251, In Executive Shakeup

Things are not going so well over at Bellevue-based Outerwall--the company formerly known as Coinstar--as the company said it is cutting 8.5 percent of its staff, or 251 positions, and is in a major restructuring. The company said it will be discontinuing three of its new ventures -- Rubi, Crisp Market and Star Studio--and also shuffling leadership at Redbox. The company said the combined moves are expected to save the company $22M in annual costs. Rubi was Outerwall's coffee kiosk, Crisp Market offered up fresh food, and Star Studio had offered up photos. As part of the move, Outerwall said that Redbox president Anne Saunder has left the business.