Although we previously reported that the layoffs would affect over 20 percent of its staff, SecondMarket now tells us that the number is closer to 10 percent.
While we were unable to obtain a comment yesterday, a SecondMarket representative said this in an official statement:
In a post-Facebook market world, we have decided to eliminate some positions that are no longer core to our company's long-term mission. We … Read moreThe online private equity market SecondMarket will layoff 30 of its 130 employees, a source familiar with the company's plans told CNET. The company has risen to prominence in recent years as a venue for buying and selling stocks for private companies, such as Facebook, Twitter, and Zynga.
With Facebook set to go public this spring, the layoffs could be indicative of a forthcoming drought in private equity. Just yesterday, reports began to surface that Facebook would this week halt secondary-market trading, a move that will weigh heavily on … Read more
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