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Recommended Reads: Gaia Layoffs
Gaia Online lays off 36 employees despite alleged record earnings.
Gaia Online lays off 36 employees despite alleged record earnings, as heard throughout several blogs; 16 full time staff members and 20 contractors were released. The company raised US$11 million back in July (lead by Institutional Venture Partners) and has allegedly been looking for new team-members up until a month ago.
A propensity to save comes as no surprise during the current economic downturn (or using the crisis as a welcome alibi to iron out a flawed hiring policy). Techcrunch’s Jason Kincaid mentions a rumor though that the layoffs are connected to a product launch which “didn’t go as well as hoped”. That’s a bit curious—the last launch was Gaia’s new MMO zOMG, which supposedly had a very good start with around half a million sign ups. Probably Gaia had hoped (especially through zOMG) for an even higher turnover for their virtual goods?
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