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Hi5 Lays Off 10-15% Of Staff
Posted by: snwmark (---.eurotel.cz)
Date: October 17, 2008 06:42PM

TECH CRUNCH -- Oct 16 -- On Monday, the 110-person company laid off 10 to 15% of its employees in what it is calling a "restructuring" move. A tipster told us that the cuts came mostly in Design, HR, and QA. I called to ask for a comment and Hi5's VP of marketing Mike Trigg confirms: We did a restructuring this week. We did let a few people go, but we are also hiring people.

Mark Brooks: That's got to make the people who were let go feel extra bad! C'est la vie. The downturn is giving the SNS industry the kick it needs to do some pruning so it can become more profitable more quickly.



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Re: Hi5 Lays Off 10-15% Of Staff
Posted by: yorktown (Moderator)
Date: October 21, 2008 06:23PM

As I said, this is becoming one of the greatest buying opportunities for those with cash looking to take social networking sites on the ropes.

Marc Lesnick
Conference Organizer
SNC 2008

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