SecondMarket Lays Off 10% Of Its Staff Because Of The Facebook IPO

Barry Silbert

Photo: Business Insider

Second Market is laying off 10% of the staff, the company says in a release.Now that Facebook is going public, SecondMarket’s business is changing. The layoffs are part of that change.

Here’s the statement:

In a post-Facebook market world, we have decided to eliminate some positions that are no longer core to our company’s long-term mission. We reduced our headcount by approximately 10% today, but will continue to hire in select areas. We have no additional planned layoffs and look forward to ramping up our headcount in the future.

The news of the layoffs was first reported by CNET.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

facebook ipos sai-us