Black Rabbit (236299)
writes "Social-media pioneer LiveJournal is the latest company to announce a round of layoffs, trimming down its employee head count in its San Francisco and Moscow offices.
A statement from the company came after a rumor on gossip blog Gawker suggested that a shocking number of LiveJournal employees--20 out of 28--had been cut. LiveJournal clarified that it was "about a dozen" cuts, amounting to about a fifth of the company.
"LiveJournal Inc.'s headquarters, technical operations (and servers), legal, administration, and the customer service teams will remain in the United States," the release explained. "LiveJournal's global product development and design will now be coordinated out of its Moscow office. The pooling of resources between the U.S. and Russia will allow the company to build a stronger business model, well positioned to guarantee the long-term success of LiveJournal."
Full story here: http://news.cnet.com/8301-13577_3-10132684-36.html"Link to Original Source