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    Getting The UnParty Started: Seesmic Lays Off 1/3 Of Staff

    Michael Arrington

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    J. Michael Arrington (born March 13, 1970 in Huntington Beach, California) is a serial entrepreneur and the founder of TechCrunch, a blog covering startups and technology news. Arrington attended Claremont McKenna College (BA Economics, 1992) and Stanford Law School (JD, 1995) and practiced as a corporate and securities lawyer at two law firms: O’Melveny & Myers and Wilson Sonsini Goodrich... → Learn More

    Friday, October 10th, 2008
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    It’s time to start slamming the reality of the Silicon Valley situation home to everyone. Seesmic founder Loic Le Meur lets seven employees go, he says, which is more than a third of the company. This comes on top of three employees let go a couple of weeks ago.

    “We cut everything that wasn’t outsourceable, core or absolutely necessary for the company.”

    Le Meur says the company isn’t in dire financial trouble yet, noting he raised a $6 million round just a few months ago. But he’s planning for a bleak fundraising future.

    I am an investor in the company.

    Tough times. Tough decisions.also read my blog post http://www.loiclemeur.com/english/2008/10/tough-times-tou.htmlhttp://seesmic.com/embeds/wrapper.swf

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