My coworker passed this on to me:
http://valleywag.gawker.com/5124184/the-russian-bear-slashes-a-social-network#viewcomments "The bubble in social networking has burst, decisively. LiveJournal, the San Francisco-based arm of Sup, a Russian Internet startup, has cut 12 of 28 U.S. employees - and offered them
no severance, we're told."