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Synacor cuts 14 local jobs as contract loss hits home

Synacor cuts 14 local jobs as contract loss hits home

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Synacor Inc. is cutting 14 jobs in Buffalo after losing a major contract. (John Hickey/News file photo)

Synacor Inc. has cut 14 jobs at its main office in Buffalo as the technology company scales back after losing a contract to manage AT&T's web portal earlier this year.

The job cuts are part of a companywide reduction that eliminated fewer than 50 jobs, said Meredith Roth, a company spokeswoman. Most of the job cuts were at its office in Los Angeles, she said.

"Synacor continues to focus on growth in products and global customers in our software, services, and ad business, especially as we shift toward a software-as-a-service model with recurring revenues," Roth said.

Synacor had about 150 workers in Buffalo before the latest job cuts and about 400 companywide.

The loss of the AT&T contract, which never lived up to the lofty expectations Synacor executives initially had for the deal, is expected to eliminate about 25% of the company's annual sales, analysts have said.

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