Digg Fires 10% of workforce
January 22, 2009
Breaking - Digg has fired 10% of its workforce, and hammered their sales team replacing mass numbers of them. The company blog put this spin to it.
“given the current economic climate, we’ve made the decision to take a more conservative approach …. This means we’ll be taking proactive measures to manage our costs including a headcount reduction in certain areas that are less core to this year’s objectives”
In fact, Digg has fired 10% of their workforce and fired their entire sales staff. Digg has been living in a bubble over the past few years basking in VC money and not really exposed to Recession / Depression whatever you wish to call the economic disaster we are living in.
However their investors are screaming “make a profit” and Diggs solution is to start handing out pink slips. Their major cash cow is Microsoft, a company that just fired 5000 people a few hours ago.
If your major client just dumped 5000 people on the street it’s one hell of a warning sign that your firm is in trouble.
This is what our economy looks like.
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