Fab.com Cuts More Than 100 Employees in Berlin in Strategy Shift
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Fab.com Inc., the online retailer recently valued at $1 billion, is cutting more than 100 employees in Berlin to concentrate its business in New York.
The company also asked more than 30 other employees in the Berlin office to move to New York, founder and Chief Executive Officer Jason Goldberg said today in a blog post. Fab is starting to sell the same products around the world, instead of having a separate European store, Goldberg told employees today in a separate memo obtained by Bloomberg.