Downturn Strikes Again: Heavy Lays Off 14%
Layoffs are hitting all over the tech industry, and online video startups are taking it on the chin too. We already wrote about Seesmic’s two rounds of layoffs, and now we find out that men’s-oriented video portal Heavy dropped 14 percent of its staff today.
New York City-based Heavy has also had previous layoffs alongside its split into two companies (spinoff Husky is an advertising tech company), and has also seen more than its fair share of attrition. The company’s staff is down to 57 after today’s layoffs, from 105 employees in June, a 45 percent loss in four months, according to Silicon Alley Insider. Heavy, of course, tried to play layoffs off as a strengthening move, but putting people out of a job is never a happy thing. The company’s statement on the matter follows:
“Given the current economic downturn and related uncertainty in its industry, Heavy today reduced its staff by 14%. With its premium Heavy Men’s Network platform serving 23M young men per month in the US alone, and profitable International operations in Canada, the United Kingdom and Australia, Heavy is strongly positioned for any dip in the advertising market.”
Do you know of other online video layoffs? Are you newly in need of a job? Let us know.
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[...] to the current economic downturn. We’ve recently covered layoffs at Veoh, PermissionTV, Playboy, Heavy, Seesmic, and BitTorrent. Crackle, another site focused on original content, also lost most of its [...]
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I hope this can continue so we have consolidation in the space. There are too many crappy portals that are useless and do not make any money. Let the real companies that generate real revenue be the ones remaining.
Were these layoffs in the work or are the companies simply using the “bad economy” as a excuse to get rid of people.
Layoffs, though a business necessity, are never pleasant. Let’s hope the guys/gals get situated soon.