According to employee reports to an Internet company with an unmentionable name which specializing in announcing layoffs, CEO blunders, and other embarrassing corporate announcements, about 75 percent of Move.com's employees have been laid off after the company was acquired by Homestore. Homestore's acquisition of Move.com makes it the largest online real estate service, giving it an online monopoly of real estate listings. Homebid also did a house-cleaning in anticipation of being acquired by Homestore, primarily in its public relations, advertising and sales staffs, but not in its IT staff where integration of Homebid technology will be needed to work with Homestore's eRealtor platform.

Published: February 27, 2001

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