And then there were twelve…

Word on the street is that Vancouver’s EQO Communications downsized from 35 employees to 12 today.

EQO (pronounced “echo”) is a FREE application that brings free instant messaging, cheap calling and cheap texting to your mobile phone. Chat on the go using MSN, AIM, Yahoo, Google Talk, QQ (NEW!), ICQ and Jabber, or call and text anyone in the world at super-low rates. Invite your friends to join your EQO network and you can use EQO to call them at 50% off EQO’s regular calling rate, or send them an EQO Message for free.

EQO launched at the DEMO show in February 2006 and was honoured as one of the Top 100 private companies in 2007 by Red Herring. EQO is headquartered in Vancouver and operates marketing/business development centers in San Francisco and London.

In April of 2007, EQO closed a $9 Million second round of financing which was on top of their original $4 Million Series A financing. The second round investment included first round participants GrowthWorks and BDC Capital as well as new investor Ventures West taking the lead.

According to the careers section of the EQO website today they’re “well-funded” and still hiring. At $13 Million, I agree with well-funded but it sounds like the job opportunities might be getting stale.