Priceline's Troubles Continue; CFO Resigns
The high-profile Priceline.com, a name-your-own-price Web site for travel, lodging, groceries and other amenities, continues to ride a rough road. News several weeks ago that its price per share had decreased, along with a drop in consumer confidence, has forced the online site to lay off 16 percent of its employees.
This equates to 87 of 535 total employees. Also leaving is Heidi Miller, Priceline's CFO, who worked for the company a short eight months.
Miller received some press when she first joined Priceline because she left a somewhat prestigious job at Citibank to pursue the dotcom. As expected, she was quoted as saying she left Priceline to pursue interests in a more established business environment.
Miller's flight from the dotcom is nothing new. All around the world, executives are seeking the solid ground of a stronger employer instead of riding out the realm of the New Economy.
Perhaps even William Shatner will find a new gig!