US e-tailer Egghead has axed 29 per cent of its workforce just a month after a first round of job cuts prompted IBM to loan the company $20m.
By Sonya Rabbitte, 9 April 2001 11:02
NEWS The 186 redundancies came into effect immediately after Friday's announcement, and will affect staff across the board at Egghead's California and Washington offices. Last month, 77 employees lost their jobs after the company announced poor financial results for the fourth quarter of 2000 and the latest round of cuts come despite the company subsequently receiving a $20m cash injection from IBM, intended to tie it over until it reached profitability.
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