Autobytel Positions for Sale
About 75 people were laid off last week as the site continued cost-cutting begun last year.
About 75 people were laid off last week as the site continued cost-cutting begun last year.
About 35 percent of Autobytel’s employees, 75 positions, were eliminated last week as the embattled car-buying Web site continued company-wide cost-cutting initiatives started last year. The second step the company made was to contract with investment banking firm RBC Capital Markets.
It’s unclear what departments were affected by the 75 positions eliminated on Friday. A statement from the company said the reductions would “reinforce management’s previously announced commitment to improve cash flow and attain profitability.” While the company expects to save approximately $10 million annually as a result of the layoff, it will incur severance and other employee-related expenses of about $2.2 million in the second half of the year.
Autobytel operates a number of car-buying Web sites where consumers can find, see, buy, and learn about anything automotive. The sites include Autobytel.com, Autoweb.com, CarSmart.com, Autosite.com, CarTV.com, and MyRide.com. The company also generates leads for dealers and car companies on its AutoReach ad network and through relationships with ESPN.com, AOL, Edmunds, and Kelly Blue Book.
In February Autobytel launched Local Connect, a data-driven ad product to help local dealers gain leads. A month into its launch the sales team had only sold to a small number of its 3,700 franchise customers.
Autobytel was unable to provide comment by press time.
More about:
Lucy helps organizations leverage knowledge for in... View Tech Talk
TVSquared is the global leader in cross-platform T... View Tech Talk
Grata is a B2B search engine for discovering small... View Tech Talk
Streaming has become a staple of US media-viewing ... Download Now
Data is the lifeblood of so many companies today. ... Download Now
This report documents the findings of a Fireside c... Download Now
Customers decide fast, influenced by only 2.5 touc... Download Now
Streaming has become a staple of US media-viewing habits. Streaming video, however, still comes with a variety of pesky frustrations that viewers are ...
View resourceData is the lifeblood of so many companies today. You need more of it, all of which at higher quality, and all the meanwhile being compliant with data...
View resourceThis report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. It provides expert insight on how companies can ret...
View resourceCustomers decide fast, influenced by only 2.5 touchpoints – globally! Make sure your brand shines in those critical moments. Read More...
View resourceMarketers today need to thoughtfully select visuals that align with their content, boost SEO performance and drive ROI Read More...
View articleHow the sunglasses giant created subconscious brand recall value with music festival-goers through the power of strategic partnerships and experientia...
View articleIn life, as much as on LinkedIn (or Facebook, Twitter, etc.) people and brands who blabber on about themselves become annoying and best avoided, soone...
View articleBuilding trust in your brand is hard enough. Now take a situation where your audience is so cynical of your product offering some of them even call fo...
View articleThere is room for better lead capturing as ABM evolves in a cookieless world Read More...
View articleTop-of-mind action points that will be valuable to challenger brand marketing for the rest of 2021 and 2022 Read More...
View articleOmnichannel marketing presents an opportunity to marketers but requires better use of data Read More...
View articleThe dark horse your business needs to outperform competition and win at search Read More...
View article