Online entertainment provider Creative Planet says it has laid off 25 employees out of about 105, marking the third round of layoffs for the 3-year-old company. Chief Executive Allen DeBevoise said the layoffs affected all divisions and are part of the company's efforts "to tighten the ship and essentially get to profitability sooner."
In December, Creative Planet cut 20 percent of its staff despite securing $30 million in funding and adjusting its business model in a move to turn a profit. Four months earlier, the company laid off about 30 employees. Founded in 1998, Los Angeles-based Creative Planet originally aimed to be a Web portal, but switched to a business-to-business model by providing Hollywood producers a central place to search materials for sets, an actor list and other items to create a movie or TV show.