I received several reports over the weekend that Rightside (NAME) laid off some of its work staff late last week.
I reached out to Taryn Naidu CEO of Rightside who had the following statement:
“”In an effort to lower the overall cost structure and realign our resources on more strategic parts of our business, we made a difficult decision to layoff around six percent of our employees last Thursday. These changes will allow us to put more focus on our key growth areas that will drive our company forward even more aggressively. It’s a great time to be in the domain industry and Rightside is well-positioned for success.””
Shares of Rightside rose over 4% today to close at $8.87 a share after hitting an intraday high of $9.13
Rightside traded a low as $7.32 last week but rebounded quickly in what still is a horrible 2016 for the stock market.
According to Yahoo the company has 250 employees.