Mobile entertainment company Thumbplay confirmed Wednesday it has reduced staff but would not say how many of its roughly 100 employees have been cut.
In announcing the layoffs,
Thumbplay founder and CEO Are Traasdahl said: "This is preparation for what all indicators show will be a prolonged economic downturn. Thumbplay, like every responsible company out there right now, is
preparing against future risk."
Traasdahl also said New York-based Thumbplay, which sells more than 80,000 pieces of mobile content on its site, is on track to surpass 50% revenue growth this
year and that 2009 "will be another very solid growth year."
In March, the company announced raising $18 million from Brookside Capital Partners, an investment fund affiliated with Bain Capital,
and Cross Creek Capital, the private equity arm of Wasatch Advisors.
A company spokesperson said the extent of the cutbacks was "markedly lower" than the 25% reported by Silicon Alley
Insider.--Mark Walsh