Egghead.com lays off 77 employees

Egghead.com laid off 77 employees Monday, citing a need to cut costs. The layoffs at the Menlo Park, Calif.-based company were across the board, although no executives were affected, Egghead representatives said. Last month, Egghead lowered expectations for its coming year, saying it expects its revenue in 2001 to be about the same as in 2000. In December, the company was the victim of a hacker attack that potentially exposed 3.7 million customer accounts.

Egghead gave laid off employees 30 days notice and will give each affected employee one-week of severance pay for each year worked at the company. As of Dec. 31., Egghead employed 668 people, company representatives said. Some 40 of the job cuts come from the company's Menlo Park, Calif., headquarters, while the rest come from its offices in Vancouver, Wash.