To be a company held as emblematic of the downturn does not require laying off hundreds bankers or workers in southern China. My friend Loic Le Meur’s tough decision to lay off one third of his staff made page 1 of the Financial Times last week and today featured in The New York Times (below).

For many entrepreneurs, the lone goal has become survival. At Seesmic, a video blogging service, the day of reckoning — when it runs out of the $6 million it raised in May — will come in three years. To make the money last, Loïc Le Meur, the chief executive, recently laid off seven employees, or one-third of his staff, and cut all projects not directly related to the video service.

“If I can’t make this work in three years it will be a failure,” Mr. Le Meur said. “If I can and I get through this, it will be much stronger.”

Good luck to Loic and the reduced Seesmic team!