Friday, November 7, 2008

Layoff increase as we get close to the holidays: AMD, LinkedIn, Veoh

Chip maker AMD reduced its workforce by 3%, or roughly 500 staffers. In April, the company laid off 10% of its staff.

LinkedIn has announced that it’s cutting 10% of its staff (about 36 jobs). LinkedIn recently raised $22.7 million in funding (in June it raised $53 million).

Veoh, an online video-sharing site, also announced layoffs – roughly 20% of its staff, or 20 people. While revenue for the company is reportedly growing, the gloomy economic forecast was blamed on the cuts. In June, Veoh received a $30 million round of funding.

No comments:

Post a Comment