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Truevision Inc., the Indianapolis company that made a name for itself by developing leading-edge video technology, has made across-the-board layoffs and lost its longtime president and CEO Cathleen Asch.
Truevision laid off 25 employees in April, and Asch resigned in May, said Nick Ball, executive vice president, chief financial officer and acting general manager.
The layoffs and an accompanying reorganization are intended to help stem six consecutive quarters of red ink flowing from Truevision's parent, Santa Clara, Calif.-based Rasterops Corp., which bought Truevision in August 1992.
"We honestly believe it will have a big benefit for us, because it focuses business on the things we need to pay attention to," Ball said.
Asch resigned because she had done all she could do at Truevision and needed new challenges, Ball said, adding that she will do some consulting for the firm.
Asch was out of the country and could not be reached for comment.
Truevision was formed in 1987 by 29 former AT&T videographics division employees who pooled their money to buy products designed by the company's Electronic Photography and Imaging Center.
Truevision designed, manufactured and sold high-end, high-resolution videographics hardware for personal computers that...