NetSales' Net Loss

B2B Tech and Support Firm Cuts 40% of Staff

December 4, 2000

Overland Park, KS December 4, 2000 -- VENTUREWIRE -- NetSales, which provides industrial suppliers with technology and support services for online product sales, cut 63 positions across every department. Approximately 100 employees remain. The company is focusing more on supplier integration and the layoffs were a result of the company's incorrect estimation of the number of staff it needed.

Netsales sold its online software sales division last August, eliminating 70 jobs, as part of its shift from a business-to-consumer focus to a business-to-business market.

NetSales received $31.75 million in March from Norwest Equity Partners, Time Warner, Chase Manhattan, Wells Fargo, Advanta Partners, HarbourVest Partners, and Kansas City Equity Partners.

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