Harsh economy is biting: Loic Le Meur’s Seesmic lets go 7 employees

It's kinda funny when laying off 7 employees is news. Does anyone remember the first dot-com bust, when you could check FuckedCompany.com 10 times a day and each time it would announce "Webvan lays off 150. Kosmo lays off 200. Value America lays off 500"?

Surely it is the economy and not their lack of revenue.