Dot.com networking organisation First Tuesday is to restructure following a number of redundancies forced by its US parent company Yazam.
As the UK office awaits an official statement from the US, it was confirmed that two people had been laid off in London.
Speculation mounted today that another two had resigned and that further job losses could be on the cards. Globally, some 5% of Yazam's workforce is believed to have been axed so far.
The restructure comes less than four months after New York-based internet start-up investor Yazam bought First Tuesday for just over £40m.
None of the original three founders - Nick Denton, Adam Gold and Julie Meyer - are still with the company, although Ms Meyer still speaks at the conferences and events. She is said to be getting ready to go it alone, but has not revealed her plans. First Tuesday is now run by Reade Fahs.
First Tuesday, which began in London in October 1998 as a meeting place for investors and innovators, grew quickly to a network across 85 cities in 42 countries.
It was hailed as the shining star of the internet revolution and in its heyday, entrepreneurs were fighting for tickets to First Tuesday events.
Despite its popularity, it struggled to make enough money to cover operational costs and was bought out by Yazam.
