Is Livejournal on its way out?

Well there have now been reports of significant layoffs of Livejournal staff that came with no notice, and apparently no severance either.  Apparently the Russian company that purchased Livejournal last year has come to realize that the social networking bubble was already beginning to burst when they bought it – and with a wide reaching economic downturn it looks … More Is Livejournal on its way out?