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A report today from PandoDaily said that Santa Monica-based BetterWorks has terminated all of its sales and marketing staff, and half of its operations team. The move is an abrupt shift from feast to famine for BetterWorks, the high profile employee fringe benefits startup headed by prolific angel investor Paige Craig.
For our Insights & Opinions section today, Cathy Ashbaugh, President of Pacific Shore Resources, a local recruiting firm, gives some well timed advice on how to handle a layoff: As we enter into the second quarter of 2009 we are beginning to see small signs of hope and improvement in the economy.
The layoffs--first reported by PlugInCars--apprently included a "substantial part" of its sales and marketing staff. The layoffs impact approximately 15 percent of Coda's workforce. The layoffs apparently come as the company has sold less than 100 of its automobiles since launching in March, according to the report.
In a major Los Angeles area layoff, daily deals and offers service LivingSocial is closing a sales facility in Torrance, and cutting 400 employees throughout the company, as part of a restructuring. livingsocial torrance layoff jobs employment daily deals restructuring marketing' READ MORE>>.
The announcement Monday that Zynga is cutting 18 percent of its workforce is throwing a lot of talent onto the market, to the benefit of the company''s competitors. Although the layoff at Zynga does put a lot of talent on the market, Dewolfe said that it won''t be accelerating its rate of hiring. READ MORE>>.
The move apparently came as HuffingtonPOst is shifting its HuffPo Live focus to international markets. huffingtonpost video streaming livestream talk television content hollywood huffpo live layoff jobs' HuffPo Live was launched about a year to, to provide live-streaming, video coverage to the Huffington Post site. READ MORE>>.
LSI Corporation , a developer of data storage products, has cut a product line it had been developing in Southern California, resulting in the layoffs of employees in Irvine and Westlake Village, as well as Israel and Silicon Valley. Sources close to LSI confirmed the layoffs.
According to a message from the company-- first posted by Infotrends --the company said the "time and cost" required to deliver on its concept of "digital postal mail" is "more than the market is prepared to invest." zumbox postal delivery mail shutdown employment jobs layoff' READ MORE>>.
San Diego-based La Jolla Pharmaceuticals , the failed biopharmaceuticals firm which was previously developing treating lupus renal disease, reported today that it has received notification from the Nasdaq that it will be delisted from the market as of Thursday.
“[W]e are shifting our technology strategy to leverage external partners for parts of our platform that we’re currently maintaining internally,” Weiss wrote in the email announcing the layoffs to staff. The tech team layoffs are notable for a beauty retailer that has often described itself as a technology company.
According to RealD, the cuts include the elimination of certain sales and marketing and research and development expenditures. reald layoff jobs employment hollywood movie projection theater' The number of employees who will be affected by the cutbacks were not disclosed by the company. READ MORE>>.
It has not been a great few weeks for San Diego''s technology jobs market: yesterday, Sony Electronics, another big employer in San Diego also announced a big cut of employees, letting 400 go at its location in the city. websense jobs employment texas layoff' READ MORE>>.
Boulder Electric Vehicles had been developing medium- and light-duty electric trucks, aimed at the corporate and municial market READ MORE>>. boulder electric vehicles shutdown angeles cleantech truck auto transportation layoff'
There were, of course, those who used the opportunity to make a marketing push or pitch a story. ” Layoffs in a time of COVID-19. If so, go check out Layoffs.fyi, the site doesn’t just list layoffs. It wasn’t just the number of you who reached out. I get the impulse, but you won’t be rewarded here.
The rumors were denied by the company, although the firm said it has "made decisions to ensure that the company is strategically addressing the most attractive markets." Exactly what that means--the implication is a major realignment or layoff at the company--has not yet become apparent. as part of an "ongoing review" of its business.
Raising money during this crisis will be almost impossible, even from friends and family shocked by the stock market declines. Do you still need marketing costs when there is no-one out there buying new product? FINANCIAL: Do you have twelve to eighteen months of cash to cover your “burn rate” now and as you recover?
The firm said it retains 93 full time equivalent employees at the company, including 57 in sales and marketing; the firm is now hoping the FDA will provide action on its NDA sometime this summer. zogenix pharmaceutical lifescience jobs employment layoff disorder drug development' READ MORE>>.
Agoura-based THQ said Thursday that it is chopping 240 jobs as part of a "realignment" of its organization, as it exits the kids licensed video game market. The layoffs come after the firm missed Wall Street estimates, with revenues of $404.4M.
The company also said that its EVP of Marketing and Sales, Mr. Claude Shores--as well as other, un-named employees--have resigned and left the company. cytori therapeutics executive biotech lifescience biopharma biopharmaceuticals layoff jobs employment' READ MORE>>.
XCOR had been one of a number of companies in Southern California pursuing the commercial space market. The bankruptcy follows a layoff of all of the company's employees in July , when it said it was unable to raise money to further fund its spacecraft development efforts.
Veoh said that the firm, although doing well financially, could not predict how soft the online advertising market will become, given the economic challenges of today. The layoffs occurred yesterday, when employees were notified of the move.
The company says it has been seeing competition in the data storage industry which has "create pressure" on maintaining market share, saying that "market headwinds" have been challenging the company. The company reported a net loss of $1.2 million for the year, on revenues of $9.4M. READ MORE>>.
per share, minimum bid price required by the NASDAQ Global Select Market. THQ has been suffering in recent months, having completely cut its efforts to compete in the kids' game segment, announcing multiple layoffs, and most recently delaying its latest Saints Row release--all of which has been reflected in the company's stock price.
Agoura Hills-based THQ , a developer and publisher of video games, said Wednesday that it is making "additional cost reduction actions" which includes the layoff of approximately 600 people, or 24 percent of the company's workforce. THQ said the move was a response to the continuing uncertainty in the market. READ MORE>>.
But knowing the right people and knowing a market only works well for angel investors in bullish tech markets in which IPO’s happen quickly (97-99) or where larger companies are actively scooping up little tiny companies at sub $50 million valuations to drive innovation (05-08, 10-?). Obviously I agree.
According to Blippar, it had been attempting to gain a "small amount of funding" as it was making a shift into the B2B market, but an un-named, existing investor "voted against the additional funding, effectively blocking the investment even if they were not asked to participate in any further financing of the business". READ MORE>>.
Autobytel said it has hired RBC Capital Markets to explore "strategic alternatives" at the firm, which usually indicates that a company is looking for a buyer. Autobytel provides marketing services for automotive dealers. Autobytel provides marketing services for automotive dealers. READ MORE>>
Chatsworth-based Capstone Turbine , a manufacturer of microturbine systems for the power generation market, announced this morning that the firm has laid off 22 positions at the firm. Tags: capstone turbine employment jobs layoff. in annual operating savings.
Harman said the move will affect about 130 employees, including sales, marketing, and administration staff. Tags: jobs employment layoff harman international. Harman said that a limited number of its employees will be offered relocation.
San Diego-based Entropic Communications , a manufacturer of semiconductors for the home entertainment market, said in a filing with the SEC Tuesday that the firm is cutting approximately 55 of its employees, or 18 percent of its workforce. Tags: employment jobs layoff diego entropic sandiego semiconductor. READ MORE>>.
Vitesse is a maker of semiconductors for the high speed networking and other related markets. Tags: layoff jobs employment semiconductor vitesse. The firm said it hopes the cuts will allow it to remain cash neutral or better for the fiscal year. Exact number of employees affected by the move was not disclosed. READ MORE>>.
According to Cortex, it has reduced its personnel by approximately 50 percent, because of the "continuing uncertainty in the capital markets" and the economy. Tags: employment layoff cortex pharmaceuticals psychiatric lifescience.
In a statement, new MySpace CEO Owen Van Natta said that the firm's international staffing had become "too big and cumbersome to be sustainable in current market conditions." Tags: international layoff jobs employment myspace. READ MORE>>.
examines and analyses this entrepreneurial revolution to reveal critical lessons every Gen-Y entrepreneur and marketer must learn. Viral marketing campaigns to lure new customers will cost you big money. Past layoffs at big companies usually means more great employees on the market now for newer companies.
The firm said that it had a sales decrease due to contracting commercial markets and the global recession. Tags: teledyne technologies employment jobs layoff aerospace electronics.
If you believe you have a market-leading position in your product space I would worry a bit less about it. The problem with “bundling” other news stories is that you then lose the ability to market those the press outlets in their own right. For starters, once you announce your competitors instantly will start tracking you.
in the fourth quarter for the layoffs, including severance for Riesenbach. The firm also reiterated its interest in a sale; the firm said it is still pursuing "strategic alternatives" with RBC Capital Markets. Coats is a partner at Southgate Alternative Investments, and previously served on Autobytel's board of directors.
this requires a strong knowledge of market data, employee performance, company performance relative to market and available resources?—?cash Should we cut costs, do layoffs, close divisions and focus scare resources on fewer projects?
Garcia said that with the economic downturn and layoffs, he suspects there's been a push towards more virtual workers. Garcia reported that it added ten mid-market customers in December, including consulting firm IBI Group and human resources management firm Workday.
Craig said that the shutdown came as a result of not being able to sustain a large enough market, relative ot the high cost of customer acquisition. According to an email from Craig, the company decided to close down the BettterWorks perk platform, and will not longer be active after next Thursday.
asset management firm Birch Lake Associates and it is aimed at bringing Faraday’s flagship FF91 SUV to market. This new financing comes hot on the heels of a joint venture (JV) with once-popular Chinese gaming company The9, which will bring Faraday’s V9 EV — a vehicle based on the FF91 — to market in China.
It might be a VP of Sales, Marketing or Technology. Trust me, if they were doing layoffs they wouldn’t keep you an extra month just to be nice. This is advice that I end up giving ALL THE TIME and every CEO of a company I’m involved with will have heard this from me. The reality is the same. Tomorrow if possible.
But knowing the right people and knowing a market only works well for angel investors in bullish tech markets in which IPO’s happen quickly (97-99) or where larger companies are actively scooping up little tiny companies at sub $50 million valuations to drive innovation (05-08, 10-?). Obviously I agree.
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