Web 2.0 companies see layoffs in wake of credit crisis

Last week, Sequoia Capital and Silicon Valley investor Ron Conway began advising their portfolio companies that they'd have to start cutting costs and showing a path to profitability if they hope to survive today's uncertain economic times. Well, it appears several startups have begun taking that advice.

In what's been a rough week for startups, as Seesmic, Jive Software, AdBrite, Hi5, Ztivity, Appcelerator, and Pandora have all reportedly reduced headcount in an effort to cut costs.