More on Geosign

Anthony sends link (Thanks Anthony!):

http://www.guelphmercury.com:80/NASApp/cs/ContentServer?pagename=mercury/Layout/Article_Type1&c=Article&cid=1180525430080&call_pageid=1050067726078&col=1050421501457

Apparently Geosign is just doing it 'faster', 'better', 'cheaper' ..  They cut 38 or 39 staff (not hundreds). CEO Ted Hastings says the co remains well funded and doesn't anticipate any further layoffs.

Quote: "Canadians in high-tech fields are in competition with content providers from foreign places like India..."

Hmmm  .. maybe Geosign is opening a Mumbai campus soon.

Comments

[Snoopy]

So Google starts cracking down on arbitrage and within a couple of weeks Geosign sacks 16% of staff. The comment "The president said the firm's use of sophisticated, high-tech software coupled with changes allowing website users to generate their own content has allowed Geosign to streamline staff." doesn't really gel.

***FS*** Hmm good pt. snoop

[AhmedF]

From what I've read - this statement (38 or 39) came first, and then came the revelation it was ~100.

http://www.threadwatch.org/node/14675:
"Company officials have just admitted the number of "38 or 39" given by president Ted Hastings is incorrect.

A spokesperson is now saying the total is between 50 and 100 but refused to give any more details."

[aaron wall]

Some people on Threadwatch commented that the layoff was more like 100+.

***FS*** Wow ... thanks Aaron.

[Ex-Geosigner]

I can confirm that the 50-100 total. There are definitely well north of 39 people let go.

[Sam Jansen]

The 38-39 was never a reference to the layoffs they did. It was their net drop in headcount since the financing as a result of the terminations. It was a complete misquote in a run down old newspaper.