Online video-sharing Web site Veoh announced Wednesday that it was laying off 20 percent of its workforce, or about 20 employees, in the face of a softening ad market.
A Veoh representative blamed the uncertain economic climate for the cuts, but insisted that company revenue was growing at a healthy clip.
"We know the realities of the market," spokeswoman Gaude Paez said Wednesday. "But no one knows how soft the ad market will get."
Paez went on to say that the company is "in good shape" and has "plenty of cash in the … Read more