I'm not trying to panic anyone, in spite of rumors about LiveJournal going under. However, I think it's a good idea to read the official Press Release about LJinc Layoffs dated January 6, 2009.
It reads in part:
Over at no_lj_ads, is the entry LJ in 2009 -- The Grim Purge. They state that the following people are 'Confirmed lost' (their wording): chasethestars, janinedog, gregorykennedy, lizlux and gorman. (Those names should be familiar to some of you.)
I'm very sorry to hear about theses loses -- especially as they were let go without advance warning or severance.
You can also read this entry by azurelunatic.
And the news item at CNet.Com is here. (The numbers are incorrect, however.)
Again, I don't believe we should all panic. On the other hand, people do go out of business all the time -- and LiveJournal isn't immune. I hope it works out, but only time will tell...