What were they doing with a headcount that high to begin with? So much for user generated content…

from Asian Private Equity News:

Bokee.com, one of China’s largest blogs, is reportedly planning to lay off one-quarter of its 400-person staff some three months after raising a $10 million second round of venture capital. For those readers who don’t recall, BlogChina (later re-named Bokee) is one of many Chinese web sites distributing illegal music, videos or pornography that have attracted U.S. venture capital. Chinese readers will recall BlogChina first gained notoriety for its controversial re-use of materials from other websites. Later, Bokee announced it had become one of China’s most popular web sites after Chinese internet pioneer MuZiMei began posting her nude photos and the supposed diaries of her sexual exploits online. When Chinese regulators told the site to cease the “Dear Pekinghouse” style columns, the Bokee moved to Japanese-style non-explicit pornography which allows it to remain one step away from Chinese regulators. No word yet on whether investors Bessemer, Mobius, Granite Global and Softbank will be able to parlay their portfolio company into a listing on the Nasdaq during 2006.