image thumb401 Buzznet Lays Off 11% of its Workforce

Buzznet, a music and celebrity related social network, has cut its staff by around 11% – laying off 10 workers in a bid to refocus its efforts on popular products amid worsening economic conditions. The current round of lay offs brings the total staff to 79. The company raised a $6 million venture round in 2007 from Anthem Ventures and Redpoint Ventures. Buzznet is now looking to increase headcount in sales, editorial and engineering divisions in order to accelerate its monetization efforts.