Feeds

Beenz meenz job cuts

When you gotta go, you gotta go

  • alert
  • submit to reddit

High performance access to file storage

Online loyalty Web currency outfit beenz.com has axed 25 jobs in the US and is looking for a further 18 volunteers in the UK.

There are now just 16 staff left in the US after workers there were given the boot last week. Following the redundancies in the UK, Beenz will still employ around 70 people.

However, the dotcom is also examining its operations in eight other countries and at this stage, no jobs are safe. It is either looking to streamline country operations or close marginal and non-strategic operations.

The job losses announced so far are part of a major re-engineering initiative at the Web-based currency. It appears that if Beenz is to survive, it has enter the offline world.

Charles Cohen, founder of Beenz, told The Register this morning: "Our customer base (other dotcoms) has been decimated over the last six months.

"We decided we needed to be very careful where we spent our money," he said.

That's why Beenz is restructuring its business - and looking for offline customers.

Cohen said he hoped to make some announcements concerning this in Q1 next year.

And Cohen assures us cash isn't a problem. In the summer it raised $39.5 million, he said. ®

High performance access to file storage

More from The Register

next story
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.