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LAS VEGAS — PurchasePro.com Inc., in a move to return to profitability, said it will cut 50% of its work force to under 300 people and realign its senior management team.
The provider of electronic business-to-business services on Monday also announced that its president, Shawn McGhee, resigned effective June 30 to accept another position.
PurchasePro, a one-time hot Internet upstart, is under pressure to perform following an embarrassing string of first-quarter earnings adjustments. It is also the target of multiple shareholder lawsuits.
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