This entry was posted on Wednesday, August 6th, 2008 at 4:58 pm and is filed under General Category. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Report: BitTorrent laying off 22 percent of staff
|
|
Things aren’t going so good over at file-sharing wunderkind, BitTorrent.
According to a report on Valleywag Wednesday, BitTorrent is laying off its entire sales and marketing department, 12 people out of the company’s entire staff of 55.
“The immediate cause of the layoffs,” according to Valleywag, is “a failure to sell the Torrent Entertainment Network, BitTorrent’s attempt at an online media store, to Best Buy for a rumored $15 million.”
The story goes on to state that a source told Valleywag that the Torrent Entertainment Network sale fell apart due to the FCC weighing in recently on file sharing.
BitTorrent wasn’t immediately available for comment.
See Also:
- PURE Receives Financial Strength Rating of A- (Excellent) from A.M. Best : High Net Worth Insurer Demonstrates Solid Financial Strength
- Sparkplug Expands and Upgrades Des Moines-Area Network to Meet Continued Growing Demand for High Capacity Business Broadband
- Green Schools Don’t Make the Grade
- PURE Receives Financial Strength Rating of A- (Excellent) from A.M. Best : High Net Worth Insurer Demonstrates Solid Financial Strength
- Steven Anello of CFA Capital Partners ‘CFA’ On the Challenge of Closing a Multimillion Dollar Mezzanine Loan In 9 Business Days
[Via CNET - News.com]
Leave a Reply
