BizBuyer.com Puts a Spin on Staff Layoffs
Just because a “dot-com” lays off 20% of its staff doesn’t mean the company is in trouble.
That’s the spin at BizBuyer.com, an online business-to-business marketplace based in Santa Monica. The 2-year-old firm laid off about 30 workers at the end of May. The company still has about 125 employees and enough cash on hand to finance its operations for 24 to 30 months, said Chief Executive Bernard Louvat.
The layoffs were under consideration for several months as BizBuyer.com executives watched their business evolve. Now, “we focus our resources on business services and professional services, when we used to be extremely broad and include products and emphasize several categories,” Louvat said.
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