That all sounded good on paper, but the company burned through money, ultimately laying off its employees in 2012. (theverge.com)
He said the core team took about a 75 % pay cut, so that the company did not have to take any radical steps of laying off employees. (techcircle.vccircle.com)
It has also laid off employees and revoked campus job offers as part of a restructuring. (techcircle.vccircle.com)