Having gone through a number of IT meltdowns, I don't think the layoffs necessarily indicate anything significant about LJ's future (by LJ, I mean the USA bit of it, not SUP as a whole). As a cost-saving move, it's not unusual for companies to lay off employees for six months and then hire them back. Disgusting and hideous, yes, but not unusual.
What I find interesting is SUP's constant trumpeting of this sort of thing: "LiveJournal Inc.'s headquarters, technical operations (and servers,) legal, administration, and customer service teams will remain in the United States." Apparently SUP is very aware it needs a US "footprint" or American LJ customers will leave in droves. While LJ/Six Apart had many a spectacular fuckup, nothing beefed up IJ's membership more than the announcement of SUP's purchase.
Personally, I find the distrust of SUP out of proportion, and more than a little chauvinist. SUP is vile, yes, but no more vile than the average American company. Consider AT&T's role in Central America, for instance. Gah.
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