'Significant layoff operation' at Hi5
Tuesday, 20th September 2011 at 11:55 am
Unverified sources claim 28 employees have gone so far
The CTO of social games group Hi5 has admitted a “significant” layoff operation has taken place at the company.
Alex St. John said Hi5 has been able to lower its workforce due to efficiency upgrades to its technology.
Technology blog TechCrunch claims that 28 people were let go, 19 of which were full-time employees, as part of the downsizing.
hi5, which at its peak boasted 50 million monthly active users, is currently building its “next generation social gaming platform”, with a view to launch in early 2012.
The company raised $14 million in funding in July last year.
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