Adatom to Fly at Nearly Half Staff
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Marketplace operator Adatom.com Inc. Monday afternoon slashed 45 percent of its workforce en route to restructuring to focus on international operations.
Adatom will transition from its operation of the superstore and AESP properties, which have been the dominant source of the company's revenues, to licensing the properties to Adatom's international partners and others. With the cut of about 25 people, the firm hopes to reduce spending by 55 percent and seeks to achieve increased revenue growth, reduced expenses and accelerated time to profitability.
Unlike most U.S. companies, whose reshuffling is completed to adress needs within the country, the California-based outfit directly hopes to meet the increased demand from buyers and sellers in both the U.S. and China to participate in bi-lateral trade through Adatom, utilizing its strategic agreements with key Chinese government and private institutions.
Richard S. Barton, president and chief executive officer of Adatom.com, said Monday that the firm's decision was based primarily on buyer-seller demands to tap Chinese government and private enterprises.
Adatom enjoys several relationships in China, including partnerships with the China Product Trade Net Center, the Yangling Agricultural Hitech Zone and the China Federation of Industrial Economics.