Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

InsWeb lays off 11 employees

Posted: June 2nd, 2011 | Author: | Filed under: By Location, USA | Tags: , | No Comments »

InsWeb Corp., the local online insurance comparison provider, has laid off 11 workers, or 13 percent of its staff.

InsWeb (Nasdaq: INSW) reported that it was shrinking its workforce after integrating InsWeb and its Potrero Media subsidiary into a single entity.

By consolidating several operating departments and laying off 11 employees, InsWeb will save about $1.4 million a year.

From: Biz journals

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