On2 Technologies is Hiring
You can easily get a compression job where you implement the 1000th implementation of some 10 year old standard, or optimize some opensource codec for another hardware platform. But if you are looking for a place where you can get a chance to work on cutting edge codecs, there aren’t too many options.
On2 Technologies is known for its proprietary video codecs which are quite popular (like their VP6 codec used in Flash).
They have a few job openings posted on their website, in case you want to get in the door.
Best of luck.