Online jeweler shrinks staff
Jewelry e-tailer Mondera.com has shrunk its work force by more than 65 percent in the last year through a series of layoffs, Chairman Fred Mouawad said Friday. The job cuts were part of a companywide restructuring done to cut operating costs, he said. As a result of the job cuts, Mondera has enough cash on hand to last it until it reaches a break-even point, which the company expects by the end of 2001 or the first quarter of 2002, Mouawad said. At its height, Mondera had about 120 employees; the company now has less than 40, he said.
true
Jewelry e-tailer Mondera.com has shrunk its work force by more than 65 percent in the last year through a series of layoffs, Chairman Fred Mouawad said Friday. The job cuts were part of a companywide restructuring done to cut operating costs, he said. As a result of the job cuts, Mondera has enough cash on hand to last it until it reaches a break-even point, which the company expects by the end of 2001 or the first quarter of 2002, Mouawad said. At its height, Mondera had about 120 employees; the company now has less than 40, he said.