MotherNature.com, Inc., the e-tailer of vitamins, minerals and other healthy living products, on Friday said it has cut about 25 positions, or roughly 20 percent of its work force.
The move comes as e-tailers in general struggle to reduce overhead to achieve profitability. In a statement, the company said its goal is to reduce cash consumption by lowering operating costs and streamlining the business to reflect current growth strategies and initiatives.
“After careful evaluation we determined that the implementation of a number of cost saving measures was necessary in order to better streamline our operations and accelerate our goal of achieving profitability,” said Michael Barach, President and CEO of MotherNature.com.
Amid the negative sentiment for the sector over the past year, investors have seen shares of MotherNature.com plummet from about $10 to its current level below $1.
The company plans to unveil a new commercial channel next week in hopes to reinvigorate the operations.