Digg Cuts 37 Percent of Staff
Matt Williams, CEO of San Francisco-based news aggregator and social curation site Digg, announced to employees today that the company will lay off 25 of its 67 staffers to reduce its expenses. “The fact is our business has a burn rate that is too high,” Williams said in a letter posted on the Digg blog. “We must significantly cut our expenses to achieve profitability in 2011.” Williams joined the troubled startup as CEO in September, replacing interim CEO Kevin Rose, who had presided over an overhaul of the site that proved deeply unpopular with some users. Also today, news emerged that Digg publisher and chief revenue officer Chas Edwards is leaving for a job at photo tagging site Pixazza; Kara Swisher at All Things D had that scoop.
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