MORE E-TAIL JOBS CUT
Article Abstract:
Several major e-tailers have announced job cuts in yet another round of dot-com downsizing. Egghead.com says it is laying off 40 employees at its Menlo Park HQ and 37 in Vancouver, WA, for a total staff reduction of 12 percent. Buy.com has announced a restructuring plan that will eliminate 125 jobs. Walmart.com has eliminated 10 percent of its staff in an attempt to reduce costs, and Kozmo.com recently closed operations in Houston and San Diego, although it still operates in nine markets; only New York, San Francisco and Boston are profitable.
Publication Name: Consumer Electronics
Subject: Telecommunications industry
ISSN: 0362-4722
Year: 2001
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WEB COMPANY BUSTED
Article Abstract:
THe United States Securities and Exchange Committee has filed complaint and asset freeze against Families Online. The company is accused of fraud and its two top officers, Mark Thurman and Robert Fiene were arrested. THe company allegedly raised $3.9 million from investors by using false claims, documents, and information. The two officers allegedly used $1.8 million of those funds for personal uses such as adult novelties and vacation expenses.
Publication Name: Consumer Electronics
Subject: Telecommunications industry
ISSN: 0362-4722
Year: 2001
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