Stario Inc. has eliminated seven full-time positions and demoted three other personnel to part-time status in an effort to reduce the overall cost of its e-commerce services business, the company said yesterday.
The layoffs Jan. 3 cut the firm's full-time staff from 30 to 20. However, the two-year-old company is not seeking additional funding, nor is it in a dire financial situation, CEO Harsha Raghavan said.
“We have ample cash,” Raghavan said. “But in today's market, which is tight overall, you have to be careful how you use [cash].”
Stario, Santa Clara, CA, recently announced MVC 2.1, a rules-based system that records viewer activity such as transactions, what pages they view, whether they refer friends to the site and whether they call customer service representatives.