Not long after laying off 10% of its staff, Digg is now adding another 25 heads to the chopping block. That’s approximately 37% of the current staff, folks. The company also lost CRO Chas Edwards earlier today. He is reportedly moving into the startup realm. According to founder Kevin Rose, the company will be refocusing the Digg product and more announcements will be made tomorrow.
Company CEO Matt Williams attributes the cuts to the deep financial loss Digg is operating under right now. With these layoffs, the hope is that it will once again reach solvency in 2011. The problem is, though, is that much more is needed than simply giving hard-working and dedicated people a pink slip. The service itself has suffered in recent history. There need to be some massive changes in order to breathe life back into what some people are calling a dying dinosaur.
What are your thoughts?
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