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Summary:

Online video site Veoh, backed by about $70 million in funding including from Michael Eisner, did about 15 layoffs from its St Petersburg, R…

Online video site Veoh, backed by about $70 million in funding including from Michael Eisner, did about 15 layoffs from its St Petersburg, Russia office about a month ago, the company has told me. Rumors started floating around this morning about layoffs of as much as 40 percent of staff, and then Valleywag posted it a little while ago…the company denies it, and says it now has about 110 employees. The Russia layoffs, on the technical/backend side, were done a while ago, and as a result it has closed down its office there. No layoffs are imminent in U.S., and the company is hiring more staff in San Diego and Los Angeles offices, the company spokesperson said.

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  1. VC comes through for these guys. Keeps the payroll going… getting tough out there.

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