Los Angeles - BitTorrent, the company founded by BitTorrent protocol inventor Bram Cohen to distribute legal entertainment content, has laid off 12 of 55 employees, or about 20% of its staff, ValleyWag reports. The cuts comprise the company's sales and marketing department. ValleyWag cited the failure of the company to sell its Torrent Entertainment Network online store to Best Buy for a rumored $15 million as the immediate cause of the layoffs.

Related Links:
http://valleywag.com/5033808/bittorrent-inc-laying-off-12-of-55-employees

http://torrentfreak.com/bittorrent-fires-20-of-its-employees-080806/

http://www.bittorrent.com