A Veoh spokesperson has denied a news report published today that the company has laid off 40 percent of its staff. Veoh’s CEO Steve Mitgang was unavailable for comment, but company spokesperson Gaude Paez said Veoh did let go of a 15-18 person technical operations and engineering team working in St. Petersburg, Russia earlier this month. Those positions are in the process of being re-hired here in the U.S.. Veoh currently has 110 employees.
Veoh also denied a rumor left in our comment section that the company would be $20 million in the hole by the end of this year. Paez said this was “not true” and that the company was still on track to reach profitability in 2009.
And Veoh hasn’t done itself any favors by being all over the place in the past six months. The company sparked a ruckus when it blocked access to all but 33 countries to its site in June, and then days later announced it was getting another $30 million, raising it’s total funding to $69.5 million.
In July it dumped its original video programming and rolled out new behavioral ad targeting system. Then in August the company won a legal victory when a California court ruled that the company was not liable for infringing content uploaded to its site.