Digg to lay off 10 percent of its workforce
Social media site Digg, on Thursday, announced that it will lay off a "very small" number of its workers and will hire a new direct sales team and head of sales to pep up the company to progress and profitability this year.
The popular social news site, Digg announced that it will cut off 10 percent of its 75 person workforce. The San Francisco Company stated that it aims to focus on developing an advertising infrastructure that will help it to get to profitability in 2009.
On the company blog on Thursday, Digg's Chief executive, Jay Adelson confirmed a "headcount reduction in certain areas". Jay Adelson wrote that the overall job cuts at the 75-person company will be "microscopic in size".
Adelson emphasized that the company will focus on "profitability and growth," and will develop its own advertising support structure, "which we've never really focused on before," wrote Adelson.
Adelson said, "We need to start investing in areas that could counteract what looks to be a pretty bad economic climate this year. The answer to having a high value is profitability as soon as possible. It's not about phantom valuations, it's about proving yourself with your revenues."
United Kingdom News
- Mass market crucial for Macau Casino Industry’s recovery: Bernstein Analysts
- William Hill to merge online and retail divisions with Phil Walker in-charge
- BGC impressed by steps taken by UK casinos, disappointed by Government’s response
- Stephen Cohen reappointed as Commissioner of the Gambling Commission
- Online Sports Bettors don’t turn to Online Casinos during absence of sports: Research