CBS Gets Rid of 20% of Last.fm’s Staff

Last.fm staff in London were celebrating their Christmas party at a venue complete with hot tub. Through today’s hangover, they heard about 20 percent are being disposed of as parent CBS Interactive (NYSE: CBS) restructures in a cost-cutting move. CBS, which splashed out $280 million in May 2007 on the social music site, confirmed to us “around 20” of its 95 staff are being laid off.

Tags: cbs credit crunch digital music econimic crisis kittens last.fm music distribution redundancy survival horror