Online sales climbed 24% year over year, while Best Buy’s overall sales were flat.
Egghead.com Inc. is laying off 29% of its work force, 178 employees. The company says the action is a move toward “right-sizing” to better serve its b2b market.
Egghead.com Inc. is laying off 29% of its work force, 178 employees, in its Menlo Park, CA, headquarters and its Vancouver, WA, operations facility. Today’s layoff follows a lay-off of 77 a month ago.
"Today`s announcement reflects the company`s ongoing commitment to right-sizing the business. 2001 is proving to be a challenging year for most technology-related businesses, and we are positioning ourselves to stay ahead of changing business conditions," said Jeff Sheahan, president and CEO of Egghead.com, direct marketer of technology and related products. "Right-sizing is critical in today`s market, especially as we continue our march toward reaching profitability this year. The current environment demands a tight operating structure. As we`ve gained experience with our B2B business model, we`ve developed a better understanding of what our outbound organization should look like and are adjusting the profile of that organization to better penetrate and service our Small- to Medium-size Business customer base. Today`s action in no way lessens our commitment to our B2B focus; in fact, it allows us to be more constructive and effective in marketing to our business customer base."