No Hi5’s Today. No. 3 Social Network Lays Off 10 to 15 Percent Of Staff
The layoffs keep rolling in. The latest startup to cut back is, the third largest social network. On Monday, the 110-person company laid off 10 to 15 percent 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. The world changed for everybody dramatically last week. We are focused on growing our business. We have great momentum.
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