News Summary

Airtime, a video startup founded by Evernote’s Phil Libin, has laid off 25 employees out of its 58-member team as part of a larger strategic shift. The layoffs, attributed to a change in company focus, are part of Airtime’s ‘seasonal’ employment structure, which allows for periodic staff evaluations. The company, which has raised nearly $135 million in venture funding, has struggled with user acquisition and product adoption. Despite the layoffs, Airtime plans to bring back 33 employees for the next work ‘season’ to focus on new products and partnerships.