Digg To Layoff 37% Of Staff, Product Refocus Imminent
It was just a few months ago that Digg dropped 10% of its staff. Now the company is making much deeper cuts – 25 employees will be laid off, a little more than 37% of Digg's total staff.
This comes on top of news that Digg lost their chief revenue officer, Chas Edwards, earlier today.
I spoke with founder Kevin Rose and new CEO Matt Williams about the cuts earlier this moing. The company will be refocusing the Digg product, Williams says, and more announcements will be made tomorrow.
The company, with around $15 million in revenue, is also running at a loss today. With these cuts, says Williams, the company should reach profitability in mid 2011.
Read the whole story: techcrunch.com
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Mike Gallagher
Freelance writer with a passion for travelling
