CNET NEWS -- Nov 5 -- Online
video-sharing Web site Veoh is laying off
20% of its workforce, ~20 employees, in the face of a
softening ad market. A Veoh representative blamed the uncertain
economic climate for the cuts, but insisted that company revenue was
growing at a healthy clip. Veoh received another round of
funding in June, this time for $30m, from Intel and
Adobe Systems. Previous investors include Goldman Sachs and former
Disney CEO Michael Eisner. The investment brought the company's total
money raised to $70m. FULL ARTICLE @ CNET NEWS
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