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Ku6 Lays Off 20% of Workforce

Sina Tech, 5/18/11

Shanda Interactive's (Nasdaq: SNDA) online video subsidiary, Ku6 (Nasdaq: KUTV), today announced that the company plans to reduce its total staff by approximately 20%, entirely from the sales department, over the next two weeks.

Following the layoffs, Ku6 plans to maintain a smaller but more efficient sales team and take various steps to improve its sales performance, including outsourcing advertising to third-party advertising companies and seeking more effective sales channels.

Ku6 expects to record its restructuring charge in Q2 2011, possibly affecting Ku6's Q2 and Q3 results.

Keywords: corporate restructuring fiscal report HR online advertising video advertising Shanda Internet online video Ku6 SNDA KUTV Q2 2011


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