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PurchasePro to cut half its work force

Published on .

Las Vegas--PurchasePro Inc. plans to cut 300 jobs, or half its work force. The troubled b-to-b marketplace enabler is trying to restore Wall Street's confidence in its prospects, which have been damaged in recent months. PurchasePro's stock shares are trading in the low single-digits, off a 52-week-high of $47.75. Additionally, PurchasePro President Shawn McGee has resigned. It is unclear who will replace him. PurchasePro founder and CEO Charles "Junior" Johnson also recently quit.
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