Employment News
Veoh to Cut Staff
By Erik Even | Dated: 04-01-2009
Web sources say that online video portal Veoh is laying off a significant portion of its staff.Sources expect Veoh to announce 80 layoffs on Thursday.
The cuts would follow a 20% workforce reduction in November 2008, and the closing of its Russian office the month before.
The move highlights the difficulty of operating a large online video site in an economy where advertisers are becoming increasingly frugal.
The site’s traffic has been steadily declining for months as YouTube and Hulu steal market share.
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