imeem Lays of 25 Percent of Staff
PaidContent is reporting that imeem is laying off 25 percent of their staff as the economic woes begin to manifest. There’s no word about why they are laying off so many but I can only assume it’s related to the presentations provided by Sequoia VCs a couple weeks ago about how cutting staff early is how to survive through the economic downturn. Those that try to wade through the storm could get crushed.
Not only is the company laying off 25 percent of their staff but PaidContent is also reporting that the company has hired a bank and is trying to sell itself for at least $200 million since that was their latest valuation.
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