More Redundancies at Corbis!

Bill Gates's Corbis stock agency is to make another round of redundancies worldwide in the first half of next year, eliminating another 125 posts and closing eight of its offices. Earlier this year the agency cut its workforce by about 15%, shedding 160 employees. Corbis is not the only agency facing challenges. Getty and Jupiter have both reported declining revenues in certain areas. Analysts are blaming this on the rise of web based microstock agencies. Recently Corbis has acquired its own microstock site, SnapVillage.