Wednesday, November 5, 2008

China Video Sharing Industry will Reshuffle

China video sharing websitesLiu Yan, the CEO of video web site "6 Room" ( said 6 Room plans to lay off employees from 200 to 60, but don't like the rumors of only 10.

At the same time, Liu Yan said 6 Rooms will not layoff before the end of this year. On the contrary, the company will hire about 10 employees.

Turning to the employees be laid off, Liu Yan said that he gave the highest compensation to all the retrenched employees, and will continue to retain their mailbox. After the Company to be profitable, he hope they could come back.

It is reported that the video-sharing Web site UUSee, PPLIVE have confirmed that layoffs, and there are the layoff rumors of Tudou, Ku6 and Youku.

At present, I think there 4 type of web sites are most likely to close down. They are video sharing, SNS social networking, search for life and online game. Because mainly rely on the support of venture capital, the video sharing sites are most affected by the financial crisis.

Some video sharing sites which does not have sufficient capital reserves will lay off and scale down. Some major sites must take advantage of this opportunity to promote the industry reshuffle.

Originally Posted: China Business Daily
Author: Angulo Fu