Social video startup Viddy has laid off a dozen employees, or about a third of its work force, as it faces competition from a Twitter app.
The cuts come less than a month after the firing of co-founder and CEO Brett O'Brien, who was rumored to have turned down a buyout offer from Twitter. In a statement, Viddy's board confirmed the staff reductions, which will reportedly focus on marketing and operations:
As the board continues to review Viddy's business, we've identified specific ways to streamline costs which include eliminating some positions. These changes will allow the … Read more