Aereo, the embattled streaming TV company that got smacked down by the Supreme Court this summer, is laying off around 60 people across its New York and Boston offices. It's a pretty drastic cutback. Roughly a third of the layoffs are hitting the New York office, where the company has engineers, customer care and marketing staff.

Already, people are asking whether this is the end for Aereo. It certainly seems like the next, inevitable step in a lengthy Aereo death watch. After losing before the court, Aereo put its business on ice and tried various legal arguments that went pretty much nowhere. Its latest move was to capitulate before the Federal Communications Commission.

But analysts predict Aereo will survive, even if it means having to fire everyone except for a few people huddled in a Boston bunker, because although the company has gone into hibernation mode, its backers have plenty of money to keep it on life support.

Here's another sign the company could continue on: Aereo's litigation is still ongoing, and the compamy also weighed in on an FCC proposal to regulate streaming video services in the same way as cable companies. More importantly, just last month, Aereo spokeswoman Virginia Lam became a registered lobbyist for the company. You don't tend to do that unless you plan on sticking around.

The layoffs will help the company save money on salaries and lower real estate expenses. But all the cost-cutting is still taking a toll on morale.

"Personally, it just sucks," said a person familiar with the layoffs, who spoke on condition of anonymity because the plans were sensitive.