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A spokesperson for Veoh told socalTECH that the changes affected every group in the firm, and was because the firm wanted to make smart choices early on in the game given a possible internet advertising slowdown. The layoffs occurred yesterday, when employees were notified of the move. The news was first reported by Paidcontent.
Los Angeles-based online advertising marketplace Rubicon Project is in a major layoff, saying in its quarterly results on Wednesday that it is cutting 125 employees, or roughly 19 percent of its workforce. According to the company, its Q3 was a "challenging quarter" for its industry and "our business in particular".
Machinima has had a series of layoffs , as the MCN has struggled to find the right formula to sustain its content development business. Machinima--and other MCNs--have been publicly unhappy with the slim cut of the advertising pie that actually make it back to the content creators from YouTube. READ MORE>>.
Irvine-based WebVisible , which provides online advertising to small and medium sized businesses, has made a major change in its organization today, saying that it has made a fifteen percent reduction in its headcount, and shuffled its CEO. Tags: webvisible netzero kristen mangers layoff jobs employment. READ MORE>>.
Los Angeles-based Oversee.net is not immune to the stormy economy, and told socalTECH Thursday that is cutting 18 percent of the firm's workforce, or a total of 38 people, including some managers. Tags: employment layoff domainer oversee angeles domain. READ MORE>>.
The cuts this time apparently came from the advertising side of Snap, and follows a big layoff of engineers in February. Venice-based Snap has cut another 100 of its employees , according to reports on Thursday, as it continues to trim its workforce. READ MORE>>.
A spokeperson for the firm told socalTECH that the change was due to an "unprecedented change in the economic environment." According to Spot Runner, the 115 represents about 30 percent of the company.
Josh Stomel: How we make money right now is advertising revenue. Also, when people are looking for resumes, we're going to target advertising relevant to that resume on the right third column. Josh Stomel: We're seeing more and more layoffs every day. The good news, is a product like ResumeBucket actually grows in this economy.
According to Calacanis, the firm is "fairly certain" that advertising for the next two years will be "severely depressed." Santa Monica-based Mahalo, the search and news site run by Jason Calacanis, has cut 10 percent of the firm's staff, Calacanis said in a post on his blog Wednesday. The cuts will give the company runway past 2012.
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