Valleywag is reporting that LiveJournal has laid off 20 of their 28 employees:
The bubble in social networking has burst, decisively. LiveJournal, the San Francisco-based arm of Sup, a Russian Internet startup, has cut about 20 of 28 employees — and offered them no severance, we’re told.
The company’s product managers and engineers were laid off, leaving only a handful of finance and operations workers — which speaks to a website to be left on life support. Matt Berardo, a Yahoo executive hired on last summer, is also believed to be gone.
(While I do not blog on LiveJournal, this blog is available in syndicated form, and a number of my friends post there.)
While I haven’t been pleased with the level of service out of LiveJournal since Sup took it over, this sort of news doesn’t bode well for anyone who actively uses the service.
For those of you using LJ as your primary blogs, you may want to make a backup just in case.
p>ADDENDUM: azurelunatic has posted a minor rebuke to the Valleywag post – that only 13 have been laid off and that 17 remain.