TechCrunch is reporting that the Digg-like site, Propeller, is holding a severe round of layoffs to reduce its workforce to its former size after relaunching the site a couple of weeks ago.
Most of the cuts, apparently, consists of its Scouts and Anchors – paid employees who monitor the site to pick the best stories and also ensure that the content is up to standards and is not, well, spam. The cuts also allow the management team to keep their current pay level.
Propeller, which used to be Netscape.com before returning to a branded site that is similar to AOL.com, was supposed to be a "Digg killer" in June 2006, and that never happened. It finally moved to Propeller.com in September of last year.
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