Got a plan B?
Interactive and online media firms may not be sending as many packing as Wall Street's finance bureaus, but the industry has not been left untouched.
Below, a synopsis of big players and ad networks that are pinching pennies and distributing pinks.
Google: No layoffs are planned at the Googleplex, but its typically liberal stream of incoming employees has tapered to a halt. CEO Eric Schmidt told Bloomberg that Google will slow hiring and make fewer acquisitions. It will not, however, cut employee perks — with one exception: "TGIF" gatherings at international offices, where executives "occasionally stop by to speak and share cupcakes with the minions," relays Silicon Alley Insider.
Over the summer, Google reportedly withdrew its evening meal perk from all employees, with the exception of the engineering team. Prior to that, the company increased on-campus day care costs.
Yahoo: 1,500 staff members — 10% of the workforce — will be cut, an unexpected morale blow for those that remained with the company during its much-publicized employee exodus. Kara Swisher at All Things Digital also expects other "very disgusted employees" to "[head] out the door on their own two feet." Individuals haven't yet been named, but HR and Finance will likely be the hardest hit.
AdBrite: Last week the Sequoia-backed ad network laid off 40 employees, or 40% of its total staff. VP Marketing Paul Levine and VP Finance Bob Feller are among those leaving the San Francisco-based company, but the cuts mean that AdBrite will now be cash flow positive and profitable, reports TechCrunch.
Gawker Media: Blog network Gawker Media announced 19 cuts in its 133-person editorial department on Oct. 7. Anticipating a plunge in ad spend in early 2009, Gawker also revised payment options for existing bloggers, which cease to receive pageview bonuses. Founder Nick Denton will instead offer them an increase on their monthly pay.
Nielsen Business Media: Nielsen shuttered its year-old social network Hey Nielsen! and cut nearly 4000 positions, company-wide, since January '07.
So far, 11 cuts were direct repercussions of its ongoing editorial reorg. Eight other positions were removed from its travel, performance and retail food group sectors. Two weeks ago, senior editor Della DeLaFuente of Marketing y Medios also lost her job.
Glam Media: Women's ad network Glam Media axed 14 jobs, 7% of its 200-person headcount, mostly in Sales. The company said the cuts are merely part of a yearly workforce review. Glam's revenue is still growing at an enviable 200% rate.
Financial Times: The parent label of FT.com will reduce its staff by 60. Most cuts will occur in Communications. "We are continuously looking to streamline our organisation, to make it as efficient as possible and to adapt it to the rapidly changing media industry," said CEO John Ridding.
"This has involved creating a global management structure, integrating print and online, and bringing our acquisitions more closely into the FT."
Veoh: Valleywag reported the online video-sharing site shall cut 40 of its 110 employees. However, the company denied the report, saying it only planned to cut 15 employees from its St. Petersburg, Russia offices. Emptied positions will be filled back in the States, Veoh added.
In July '08 the site's traffic declined 47% from last year, prompting Silicon Alley Insider to suggest that Veoh employees update their resumes.
For news on tech layoffs, see CNET's coverage.