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Tony Hsieh Issues Statement On Layoffs

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Tony Hsieh
Isaac Brekken for NPR

Layoffs at Downtown Project raise questions about its future.

On Tuesday, 30 employees were laid off from the Downtown Project, a community revitalization effort led and funded by Zappos CEO Tony Hsieh. Yesterday recode.net reported that Hsieh was stepping away from his leadership role, adding to concern about the future viability of the Project.

Hsieh has since issued a correction:

“I’ve never referred to myself as the CEO of Downtown Project, and I’ve never considered myself as being in ‘day-to-day management’ of Downtown Project,” Hsieh wrote.

“My role continues to be as an investor, advisor and equivalent of a board member that sets high-level general direction and strategy but is not involved in day-to-day management of people or projects. My level of involvement at Downtown Project is the same as it was six months ago.”

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In the statement, he also addressed the layoffs and the future of the Downtown Project, revisiting a five-year plan that he says will lead to a positive cash flow by 2016.

Today on KNPR's State of Nevada, we look at the future of downtown Las Vegas.

 

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Derrick Harris, Senior Reporter, GigaOm; Sarah Lacy, founder of Pando Daily; Joe Schoenmann, Senior Producer, KNPR's State of Nevada

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