It seems they have laid off 70 per cent of their staff and it is not looking good.
Pornhub, the massive pornography site owned and operated by MindGeek, has laid off an unknown number of staffers, according to social media posts.
A rep for MindGeek declined to specify the number of employees who have been pink-slipped.
The layoffs at MindGeek came as the company said CEO Feras Antoon and COO David Tassillo resigned in a leadership transition was in the works since early this year. Antoon and Tassillo will remain shareholders in MindGeek.
The shakeup at the internet porn giant follows the New Yorker’s publication of an investigative piece last week on MindGeek documenting how Pornhub has hosted sexually explicit nonconsensual videos — including those with children — and that several of the people in those videos spent months trying to get the site to remove the material.
In addition to the two executive departures, MindGeek planned to lay off “a number of its staff, in an attempt to cut costs after suffering revenue declines over the past 18 months following a series of revelations that MindGeek had allowed child sexual abuse material and other nonconsensual videos to be posted on Pornhub,” the Globe and Mail reported Tuesday.
Both Visa and Mastercard have cut off payment processing to MindGeek, according to the Globe and Mail report.