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Layoffs at Heavy.com - Now at 57 employees
More Layoffs: Heavy.com Shedding 12 More Employees
By Rafat Ali - Fri 17 Oct 2008 12:08 PM PST
Heavy.com, the NYC-based online video site aimed at young men, has laid off about 20 more employees, after doing a round of cuts in June, when it laid off 25 employees. Back then it had about 80 employees after the cuts then...now, with some attrition since then, they are down to around 57, the company tells me. The news comes as the company has recently spun off the online video ad network division Husky Media into a separate company. The troubles of Heavy have been brewing for a while, as it has tried to distinguish itself from the slew of other video players-- both new and bigger media companies-- in the market...some other players in the market have also questioned its traffic acquisition tactics over the years. The company has raised at least five rounds of funding before, including a $20 million round from Polaris last year.
The company’s official statement on the new layoffs: “Given the current economic downturn and related uncertainty in its industry, Heavy today reduced its staff by 14%. With its premium Heavy Men’s Network platform serving 23M young men per month in the US alone, and profitable International operations in Canada, the United Kingdom and Australia, Heavy is strongly positioned for any dip in the advertising market.”
The news was first reported by SAI.
Posted in: Broadband, Social Media
1 Comment Permalink | Back to Top
By Rafat Ali - Fri 17 Oct 2008 12:08 PM PST
Heavy.com, the NYC-based online video site aimed at young men, has laid off about 20 more employees, after doing a round of cuts in June, when it laid off 25 employees. Back then it had about 80 employees after the cuts then...now, with some attrition since then, they are down to around 57, the company tells me. The news comes as the company has recently spun off the online video ad network division Husky Media into a separate company. The troubles of Heavy have been brewing for a while, as it has tried to distinguish itself from the slew of other video players-- both new and bigger media companies-- in the market...some other players in the market have also questioned its traffic acquisition tactics over the years. The company has raised at least five rounds of funding before, including a $20 million round from Polaris last year.
The company’s official statement on the new layoffs: “Given the current economic downturn and related uncertainty in its industry, Heavy today reduced its staff by 14%. With its premium Heavy Men’s Network platform serving 23M young men per month in the US alone, and profitable International operations in Canada, the United Kingdom and Australia, Heavy is strongly positioned for any dip in the advertising market.”
The news was first reported by SAI.
Posted in: Broadband, Social Media
1 Comment Permalink | Back to Top
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