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Industry News

The axe falls at

September 6, 2002

Company to lay off half of its staff tomorrow

By Bridget McCrea
Inman News Features will cut its workforce in half tomorrow with the layoff 20 employees, Inman News has learned.

"While it is very difficult to let good people go, this move is beneficial to both WhereToLive customers and shareholders," said company CEO Roald Marth. "It gets our revenue and expenses in line with the realities of a challenging capital environment."

The remaining 20 or so employees will be focused on serving the company's existing customers and adding new accounts.

A latecomer to the real estate party, Eden Prairie, Minn.-based debuted earlier this year. The company sells a Web-based, real-time real estate platform that integrates a real estate agent platform, broker platform and the consumer in one Web-based package.

The company's agent packages, for example, include a wireless handheld device, a Sony digital camera, a personalized Web site and e-mail, unlimited virtual tour hosting and Online Office, a suite of agent productivity tools that allows the creation of flyers and maps.

According to Marth, just announced the pending launch of its upgraded product line.

With the completion of a majority of the engineering of the firm's V2 platform, will now "focus on achieving profitability as soon as possible," he said.

Copyright: Inman News Service

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