Anthony sends link (Thanks Anthony!):
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.
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
Posted by: Snoopy | May 30, 2007 at 06:58 PM
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."
Posted by: AhmedF | May 30, 2007 at 11:29 PM
Some people on Threadwatch commented that the layoff was more like 100+.
***FS*** Wow ... thanks Aaron.
Posted by: aaron wall | May 31, 2007 at 02:44 AM
I can confirm that the 50-100 total. There are definitely well north of 39 people let go.
Posted by: Ex-Geosigner | May 31, 2007 at 10:58 AM
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.
Posted by: Sam Jansen | June 01, 2007 at 08:47 AM