Report: Major layoffs coming at Veoh

Veoh looks like it could be the latest online video company to reduce headcount significantly. Sources indicate that the heavily-capitalized online video portal is set for a major restructuring tomorrow, which will see the workforce "reduced drastically."

Veoh reported having 110 employees on staff the last time it made layoffs, but reports indicate that number has already fallen before tomorrow's likely staff cutbacks.

Veoh has yet to offer a clear value proposition over either YouTube or Hulu, and now finds itself having to reorganize and refocus again. The company has also received $70 million over four rounds of funding, and is reportedly still losing traction, as visits to its homepage have actually declined of late. That's bad news for the company as CPMs on its ads decrease, and the web advertising industry in general slows due to recessionary forces.

For more:
- see the VentureBeat article here 

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