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.

[tehtron]

Is this Karma? You go commercial and stop open sourcing your code trying to pimp your service to the entertainment big wig. Only to find out that you fail horribly at attempting

[benjaminstraight]

Go figure.