Buildscape lays off 50 as the dot-com downturn worsens.
THOUGH THE RECENT TERMINATION OF 50 of its 185 jobs at home building--related dot-com Buildscape was termed by management to be routine, Internet industry observers said the company is another victim of the ongoing dot-com financial squeeze. Officials at Buildscape, a supply chain solution, did not return phone calls for comment.
Internet startups were hard hit by the spring 2000 crash of publicly traded high-tech stock companies. NASDAQ has continued to slowly decline in value ever since. The drought of investment funds following the market downturn has claimed many home building--related dot-coms, most notably BuildNet in August.
Buildscape, however, said its recent layoffs were needed as the company had reached a new development stage that required fewer workers. There was no advanced notice, as company officials told the affected employees to clean out their desks and leave the premises the same day it announced the layoffs.
Buildscape announced that to save further funds, it would consider buying software rather than continuing the extremely expensive task of creating its own. Buildscape is a subsidiary of Wilson's Riverside Group, a holding company that owns a part of the building supply chain Wickes.
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|Title Annotation:||Company Financial Information; online building supply company lays off employees|
|Article Type:||Brief Article|
|Date:||Oct 1, 2001|
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