Lytro plans to shed jobs as it shifts focus to video

Lytro CEO Jason Rosenthal has announced that the company has raised an additional $50M in funding, but plans to use it to make a strategic shift into video and virtual reality, while shedding some jobs. Although the exact number of layoffs has yet to be decided, website re/code is reporting that between 25-50 of Lytro's 130-strong workforce may be made redundant as the company seeks to hire new employees with video and virtual reality experience. Click through to read more