Hi5 Lays Off 10-15% Of Staff

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. FULL ARTICLE @ TECH CRUNCH

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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