One Kings Lane lays off staff
Home & Textiles Today Staff -- Home Textiles Today, June 20, 2014
San Francisco – It’s not a good time to be on staff at a flash sale site, or whatever they are calling themselves now.
According to a report on wsj.com, ecommerce site One Kings Lane said that it cut 15% of its workforce, a move that comes less than six months after raising a new round of venture capital funding. The job cuts affect 79 employees.
The company, which has raised a total of a whopping $225 million in funding, has seen at least four top executives leave this year, including Doug Mack, the former ceo, according to the article.
Other ecommerce sites are under stress as well: New York-based Fab.comhas had multiple rounds of layoffs, including last month, when it fired a third of its remaining staff.
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