|Wed Sept 3 2008 23:25:52|
Layoffs at eBay Vendor ChannelAdvisor
By: Ina Steiner
ChannelAdvisor laid off four Vice Presidents last month, and there are reports that there were major layoffs today at the ecommerce firm that services eBay sellers. Jeffrey Buechler, an Enterprise Sales Executive at ChannelAdvisor, blogged that he had been laid off along with about 35 other people on Wednesday, estimating it was about 15 percent of the workforce. I'm not sure if that includes the layoffs in Atlanta.
An anonymous email sent to AuctionBytes last month reported that Kevin Fitzgerald, Jennifer Gibson, Ralph Kasuba and Walter Goodlett were suddenly axed, with a reason given internally that the move was part of a reshuffle to streamline the business and make it more profitable. The names of those four Vice Presidents no longer appear on the Management Team page on the ChannelAdvisor website, having been removed sometime in the last 3 weeks. Fitzgerald was VP of Sales (and has already moved to a new company); Gibson was Vice President of International; Kasuba was VP of Engineering; and Goodlett was VP of Human Resources. There appears to be no Chief Financial Officer - Bill Brown, brought in after ChannelAdvisor raised $30 million and before it acquired MarketWorks, left the company earlier this year
There's room for speculation, ranging from a correction to tighten spending, to serious financial problems, to a lack of VC funding just as eBay is rocking seller's worlds with their changes.
I will be talking to ChannelAdvisor CEO Scot Wingo tomorrow and will report the official take on this business. In the meantime, good luck to the folks affected.
Update 9/4/08: More information can be found in today's AuctionBytes Newsflash.