Pandora, an interesting company doing radio a new way over the Internet, has cut 20 employees. While this number is not significant compared to some of the other entries, it does show a trend in the start-ups of scaling back their headcount. This amounts to 14% of staff from 140 down to 120.
Not only does this reduce the number of heads who will be collecting paychecks into the holiday season it also points to lowered hiring demand. AKA, once a job is lost in this climate it is difficult to pick up a comparable job on the market since many of these companies are either in hiring freeze mode, planning layoffs, or already having done the deed.
Reduced paychecks, reduced IPO thoughts, reduced profit shares, reduced employement all add up to reduced spending, reduced advertising, reduced commercial occupancy, and reduced credit. This reduced spending will be a huge theme through this holiday shopping season. Not many will be spared, except possibly Apple and any others?
Pandora is based on Oakland, CA.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment