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This shouldn’t come off as surprising or even a new one, the only difference being that it’s just the name that has changed. Revision3 has dropped out news of laying off a number of its employees, from the same reason; cutting down budget.

Founded by Jay Andelson and Kevin Rose, it had bagged in $8 million a couple of months back and had grabbed in talent for its video network. But it appears the funds counted out to nothing and the company like many others in business has decided to cut short pay slips it has to give to the number of employee. Let’s hope Revision 3 revises its plans and does something good by saving costs.

[via Mashable]