eHobbies lays off 25 percent of workforce
The privately held hobby site trims its staff by 34 employees and is preparing to abandon its auctions, which it launched just nine months ago.
In altering its business model, privately held eHobbies trimmed about 25 percent of its staff in departments throughout the company, said Leasa Ireland, a spokeswoman. The hardest hit, however, was the company's auction department.
eHobbies is preparing to abandon its auctions in September, which it launched just nine months ago, Ireland said.
"We are reorganizing and this was a right-sizing move," Ireland said. "Anyone not cutting their costs right now are the guys you've got to watch."
The backers of Santa Monica, Calif. company include eCompanies--which is led by Earthlink founder Sky Dayton and former chairman of Buena Vista Internet Group, Jake Winebaum--and media company Times Mirror.
Launched last October, eHobbies is a commerce site geared toward hobbyists such as comic book collectors, model builders and astronomers.