They’re swinging the axe over at BitTorrent.
On Thursday the pioneering file-sharing company laid off dozens of workers as part of an effort to streamline business operations and narrow its focus to a smaller suite of products.
Multiple sources close to BitTorrent tell BuzzFeed News that about 40 of the company’s approximately 150 domestic employees lost their jobs Thursday morning. These same people say the cuts were made as BitTorrent looks to rally its resources around Sync, a consumer cloud storage service based on its peer-to-peer file-sharing technology.
BitTorrent’s restructuring follows a tumultuous few years for the company which has struggled for years to build a sustainable business on the back of the file-sharing technology that catapulted it to fame.
Reached for comment, BitTorrent confirmed the layoffs. “We’ve recently realigned resources based on a regular evaluation of the business,” a company spokesperson told BuzzFeed News. “Regrettably, this did include some employee departures. The business however, remains healthy, profitable and growing.”
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