According to Buzzfeed, BitTorrent drastically reduced its US workforce on Thursday. Multiple anonymous sources reportedly confirmed that about 40 of the company's 150 domestic employees were sacked yesterday morning. BitTorrent has struggled to turn a profit over the last couple of years. Despite its ubiquitous name recognition and multiple profit-sharing partnerships with major musical acts, the company never quite shook the "pirated media" stigma with mainstream consumers. It also offered a string of peer-to-peer based products that never really went anywhere. I mean, do you remember Bleep, BitTorrent's P2P messaging app? No, of course you don't. BitTorrent reportedly made the cuts in order to streamline its business and focus on Sync, a cloud storage system based on it's peer-to-peer file sharing system.
Update: Bittorrent PR has issued a comment on the reported firings.
We've recently realigned resources based on a regular evaluation of the business. Regrettably, this did include some employee departures. The business however, remains healthy, profitable and growing.