Veoh Sacks 20 Percent of Manpower

Veoh Sacks 20 Percent of Manpower

Veoh, an online video-sharing web site, announced its move to retrench 20 percent of its labor force in light of the weakening ad market.


Veoh's step is attributed to the global economic turmoil. The company, however, maintains its revenues are faring well despite financial setbacks across the industry. Gaude Perez, Veoh's spokeswoman, said, "We know the realities of the market. But no one knows how soft the ad market will get."



Veoh is an internet television service company which allows users to find and watch major studio content, independent productions and user-generated material.  The firm has also distributed content from major media companies including CBS, ABC, WB, Viacom's MTV Networks, ESPN, FEARNet, Billboard, Ford Models, US Weekly, TV Guide, among others.