Ning to cut staff 40 percent
TechCrunch is reporting that Marc Andreessen's social networking hosting startup Ning is cutting its staff by 70 people, or 40 percent.
The move comes a month after founding CEO Gina Bianchini was replaced by chief operating officer Jason Rosenthal, who announced the cuts in a memo. In addition, Rosenthal said Ning would stop offering free services, forcing networks to either pay or move easy pay day loans.
The cuts will leave Ning with 98 employees.