SecondMarket Lays Off 10% Of Employees
SecondMarket is a marketplace for the trading of company shares privately. SecondMarket built most of their business on the pre-IPO interest in Facebook equity. Now SecondMarket is laying off 10% of their staff, which is roughly about 15 people.
“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 reduced our headcount by approximately 10 percent today, but will continue to hire in select areas. We have no additional planned layoffs and look forward to ramping up our headcount in the future,” said a SecondMarket spokesperson in an interview with AllThingsD.
Facebook is expected to go public in May. SecondMarket is going to have a final auction for private shares of Facebook on Tuesday.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry