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autobytel: search
Irvine-based Autobytel said Friday morning that the firm has cut 75 positions, or approximately 35% of its workforce, and hired an investment bank to "review strategic alternatives" for the firm. Autobytel said it has hired RBC Capital Markets to explore "strategic alternatives" at the firm, which usually indicates that a company is looking for a buyer. Autobytel blamed the move on a challenging economy, saying that it expects the firm will be a leaner, more focused company "right-sized" to compete in the current economic climate. Autobytel provides marketing services for automotive dealers. The firm said it expects to save $10M annually as a result of the layoffs and elimination of other expenses.
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via SoCalTech @ 4:34 27th Sep
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Online auto site Autobytel, based in Irvine, CA, has laid off about 75 employees under a cost-cutting plan it began last year, it said, citing, as usual, the economy. These represent about 35 percent of its work force. It has also hired RBC Capital Markets to explore a possible sale of the company. “We believe our current stock price as well as overall market conditions are conducive to, and have driven, increased interest in Autobytel from various third parties,” Autobytel CEO Jim Riesenbach said in a statement.
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via PaidContent.org @ 11:37 27th Sep
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Autobytel Inc., an Internet automotive marketing services company, said Friday it has eliminated an additional 75 jobs under a cost-cutting plan it began last year, citing a tough economic environment.
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via Conde Nast Portfolio @ 10:36 26th Sep
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Autobytel (ABTL) to Eliminate 35% of Workforce; Will Save $10M Annually; RBC to Help Evaluate Strategic Alternatives
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via Street Insider @ 10:36 26th Sep
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Autobytel to Present at 2008 Southern California Investor Conference and INTRAWARE, INC Signs Contract Renewal Agreement With MENTOR GRAPHICS for Existing and New Services
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via Financial News USA @ 0:22 2nd Sep
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Autobytel, Inc. (NASDAQ: ABTL), a leading Internet automotive marketing services company, recently announced the company’s results for the second quarter ending June 30, 2008. Shares fell to a multi-year low earlier this week after the company released the news of a net loss of $57.3 million, or $1.30 per share, for the second quarter, compared with a net loss of $2.0 million, or $0.05 per share, during the same period one year earlier.
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via TransWorldNews @ 12:21 8th Aug
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TMCNet: Autobytel Announces Workforce Reduction; Company Retains RBC Capital Markets to Review Strategic Opportunities
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via TMC Net @ 13:30 26th Sep
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(RTTNews) - Friday, Autobytel Inc. (ABTL: News ), an Internet automotive marketing services company, said it has eliminated an additional 75 positions, or about 35% of its workforce. The reduction is part of the company-wide cost-cutting initiative started last year.
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via RTTNews.com @ 13:13 26th Sep
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About 35 percent of Autobytel's employees, 75 positions, were eliminated last week as the embattled car-buying Web site continued company-wide cost-cutting initiatives started last year. The second step the company made was to contract with investment banking firm RBC Capital Markets.
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via ClickZ Today @ 2:15 30th Sep
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NEW YORK (Thomson Financial) - AUTOBYTEL INC SAYS ALTERNATIVES COULD ALSO INCLUDE SALE OF CERTAIN ASSETS, ACQUISITIONS, OR STRATEGIC PARTNERSHIPS Chuck Mikolajczak cm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. MMMM
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via Aastocks.com @ 13:13 26th Sep
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As a cost-cutting measure, Autobytel Inc. announced Friday was eliminating 75 jobs, or about 35 percent of its workforce.
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via Conde Nast Portfolio @ 15:43 26th Sep
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IRVINE, CA -- (Marketwire) -- 08/29/08 -- Autobytel Inc. (ABTL), a leading Internet automotive marketing services company, today announced that Jim Riesenbach, President and Chief Executive Officer, will present a company overview at the California Stock Report's 2008 Southern California Investor Conference at 9:30 a.m. PT on Wednesday, September 3, 2008 at The Island Hotel in Newport Beach, CA.
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via Houston Chronicle @ 16:44 29th Aug
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IRVINE, Calif. - As part of a company-wide cost-cutting initiative started last year, Autobytel Inc. (Nasdaq:ABTL) today announced it has eliminated an additional 75 positions, or approximately 35% percent of its workforce. These reductions reinforce management’
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via Earthtimes.org @ 12:12 26th Sep
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IRVINE, Calif. — In spite of widespread efforts to steer the company in a positive financial direction, Autobytel's fiscal performance continued to struggle in a tightly competitive online auto environment.
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via Auto Remarketing @ 0:26 8th Aug
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Irvine, CA – September 26, 2008 – As part of a company-wide cost-cutting initiative started last year, Autobytel Inc. (Nasdaq: ABTL) today announced it has eliminated an additional 75 positions, or approximately 35% percent of its workforce. These reductions reinforce management’s previously announced commitment to improve cash flow and attain profitability.
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via AutoBytel.com @ 4:26 27th Sep
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The news hit the wires this week that Autobytel, one of the original third party auto sites, had hired RBC Capital Markets to explore its options, and was laying off 75 of its 225 workers. This was on top of recent executive departures (Mark Canon to Yell.com; Jon Rosen to SpotRunner).
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via Kelsey Group @ 9:04 5th Oct
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EDITR'S NOTE: The world is in an economic slump as a result of the DotCom bust. The bust happened because there were just too many idiotic IPO/DotCom companies with no history of success or chance of achieving success. They sucked up billions of investor dollars, and then paid out unrealistic salaries to inexperienced employees (which in turn fueled the housing boom and later the housing crash when millions were thrown into unemployment or under-paying jobs under-paying compared to the previous unrealistic salaries - and they couldn't afford their mortgage payments).
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via The Auto Channel @ 13:21 1st Oct
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via Biz Journals @ 19:06 26th Sep
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The online auto-marketer said Friday it has cut 75 positions and has hired RBC Capital Markets to explore strategic alternatives.
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via CNET News.com @ 15:48 26th Sep
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via AEC News Room @ 13:06 26th Sep
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The online auto-marketer said Friday it has cut 75 positions and has hired RBC Capital Markets to explore strategic alternatives.
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via CNET News.com @ 13:07 26th Sep
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Automotive Internet Veteran Continues Mission to Help Dealers Drive Sales, Improve Customer Relationships
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via AutoBytel.com @ 10:32 17th Sep
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