The much-anticipated new TravelPost will have to wait awhile after the company changed the “scope” of its stealth product, appointed a new CEO and laid off roughly half the staff.
In the executive shakeup, Greg Slyngstad and Simon Breakwell are out as CEO and chief operating officer, respectively, and vice president of product management Jason Karas becomes CEO.
Slyngstad and Breakwell will stay involved with the company as board members, and chairman Rich Barton remains in his post.
“We’ve decided to alter the scope of our launch product,” Breakwell says. “To fit these needs, we’ve made some changes in our company structure as well.”
TravelPost laid off eight employees, about half its staff.
“Due to the sensitivity of our employee relationships, and the fact that our product vision is still in stealth mode, I’m not going to be able to say much beyond this,” Breakwell says.
Breakwell says he’ll be excited to talk about the TravelPost product “later this year.”
Read the full story at: http://www.tnooz.com/2011/01/06/news/travelpost-shakes-up-management-lays-off-half-its-staff/