Veoh to Cut Staff
Post Views 0Web sources say that online video portal Veoh is laying off a significant portion of its staff.
Sources expect Veoh to announce 80 layoffs on Thursday.
The cuts would follow a 20% workforce reduction in November 2008, and the closing of its Russian office the month before.
The move highlights the difficulty of operating a large online video site in an economy where advertisers are becoming increasingly frugal.
The site’s traffic has been steadily declining for months as YouTube and Hulu steal market share.
Veoh to Cut Staff by Harrison Barnes