Transora Lays Off 15% of Workforce, Says Merger Possible
CHICAGO - Transora, the business-to-business online exchange that links manufacturers, suppliers and retailers in food, beverage and packaged goods industries among others, has laid off about 15 percent of its work force, and its CEO says a merger with another exchange is a possibility, the Chicago Sun-Times reports.
"My goal is to make sure we have a sustainable business model on our own, so regardless of what happens, we can choose to join with another exchange or decide not to," Transora CEO Judith Sprieser told the newspaper on Thursday.
This summer Transora closed its San Francisco office and moved operations to the Chicago headquarters. Transora's operations include online promotions company planet U, which the company bought last January.
The 24 layoffs and the 16 job cuts at the San Francisco office closing bring Transora's total work force to 140.
"My goal is to make sure we have a sustainable business model on our own, so regardless of what happens, we can choose to join with another exchange or decide not to," Transora CEO Judith Sprieser told the newspaper on Thursday.
This summer Transora closed its San Francisco office and moved operations to the Chicago headquarters. Transora's operations include online promotions company planet U, which the company bought last January.
The 24 layoffs and the 16 job cuts at the San Francisco office closing bring Transora's total work force to 140.