Zivity and Hi5 Not Immune to Economic Downturn
Zivity, a softcore adult social network, and Hi5, your standard run-of-the-mill social network, have both announced job cuts this week.
Zivity is poised to cut a full third of its staff. They’ve tried to spin it as a positive, presenting it as a preventative measure put in place to ensure long-term profitability. But still. No matter how you slice it, when you’re firing one out of every three people that works for you, no es bueno.
Hi5, which - depending on which metric you’re looking at - ranks anywhere from the world’s third largest to sixth largest social network, is cutting 15 percent of its employees.
*sigh*
They’re not the first cuts the tech industry has seen this recession, and they won’t be the last. :/
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