Ku6 Lays Off 20% of Workforce

Sina Tech, 5/18/11

Shanda Interactive's (Nasdaq: SNDA) online video subsidiary, Ku6 (Nasdaq: KUTV), today announced that the company plans to reduce its total staff by approximately 20%, entirely from the sales department, over the next two weeks.

Following the layoffs, Ku6 plans to maintain a smaller but more efficient sales team and take various steps to improve its sales performance, including outsourcing advertising to third-party advertising companies and seeking more effective sales channels.

Ku6 expects to record its restructuring charge in Q2 2011, possibly affecting Ku6's Q2 and Q3 results.

Keywords: corporate restructuring fiscal report HR online advertising video advertising Shanda Internet online video Ku6 SNDA KUTV Q2 2011

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily