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Yack CEO resigns following layoffs

Yack, an online event guide, says its chief executive Jeff Morris has resigned and will leave his post on the company's board. The company, based in New York, closed its Emeryville, Calif., office two weeks ago and cut more than 25 staff positions, or about 40 percent of its work force. As a result, Yack will outsource its technology department. Last summer, the company shifted gears from selling consumer-focused services to licensing its technology to businesses. Representatives from Yack said the company is not looking for additional funding and plans to be profitable in the fourth quarter of this year.

Yack, an online event guide, says its chief executive Jeff Morris has resigned and will leave his post on the company's board. The company, based in New York, closed its Emeryville, Calif., office two weeks ago and cut more than 25 staff positions, or about 40 percent of its work force. As a result, Yack will outsource its technology department.

Last summer, the company shifted gears from selling consumer-focused services to licensing its technology to businesses. Representatives from Yack said the company is not looking for additional funding and plans to be profitable in the fourth quarter of this year.