Rearden Commerce cuts 50 people
A tipster sent in word that Rearden — an e-commerce startup from Foster City — is rumored to have cut 72 people. We hear the actual number is closer to 50 out of 375. The company provides a "personal assistant portal" that streamlines travel planning, reservations, and general logistics within corporations. Or something. Our tipster's contention is that no one, especially customers, is quite sure just what exactly the company does. Rearden raised $100 million in funding back in April of this year and claims to have signed off service contracts with 1,700 companies. Let us know if there's anything more.