BitTorrent Lays off About 40 Staff Members; Attempt To Realign Business Or Regain Profits?
BitTorrent Inc., is working to streamline its business operations in addition to enhancing its focus on fewer products. Probably, that is why the file-sharing protocol has laid off dozens of its US-based staff members.
According to TorrentFreak (TF), a former employee of the pioneering file-sharing company has confirmed the layoffs. It quotes a source as saying “about 40-45 people in their US office just got laid off which represents a large percentage of the US workforce.” Another source said that “around a third” of the US work force was being subtracting.
“The Ads team has been gutted as have several other groups – more development work is being sent to the BitTorrent team in Minsk. Only one person from senior management was let go, as is often the case in these types of things,” TorrentFreak quotes an insider.
When Buzzfeed followed BitTorrent Inc., the company did hint the reduction of staff, saying that the layoffs were part of “realignment” of the resources.
The major motive behind the layoffs is merely to save money and regain the profitability in order to boost up the company’s morale which “is pretty low just now,” one of TF sources opined.
BitTorrent has been going through tough times in these few years. The company has been endeavoring hard to sustain its success in business. The recent layoffs are being seen in that perspective. BitTorrent, however, says the business is “healthy, profitable and growing.”
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Abubaker Zahoor writes on diverse topics with special interest in innovations, tech-ethics, and inter-and intra- organizational business relationships.