An internal memo circulating around IGN has confirmed that the site has currently let go of a number of staff. There’s no rough estimate for how many layoffs have taken place, nor how many divisions of the site have been effected.

The memo, by president Roy Bahat, stated:

We’re doing this to reduce costs…we’re still feeling the effects of the economy, and we need to make sure we can invest where there is opportunity. Over the past couple of years, we have been focusing IGN on areas where we can not only grow, but be best in the world: serving gamers online, and serving advertisers looking to reach men. To do that successfully, we have to be as efficient as possible in our core businesses. The difficult actions we’re taking today get us to where we need to be

The site also faced financial pressure following the dot-com boom and were picked up by FOX in 2005.

We’ll bring you more news as the story develops.

Source: Joystiq