Orem-based iMergent Inc., which provides eCommerce software for small businesses and entrepreneurs who are interested in establishing their businesses online, said Thursday that it plans to lay off 20 percent of its work force.
Company spokeswoman Dahlia Bailey declined to disclose the exact number of jobs that will be lost.
In a news release, iMergent said it was "streamlining its sales team and administrative staff to optimize the resources dedicated to launch StoresOnline Express and to drive StoresOnline Pro sales."
The staff reduction is expected to save the company approximately $1 million annually in addition to commissions associated with reduction of its sales force.
"We are confident this retrenchment will improve operating margins and the company's long-term potential to grow profitability," said Brandon Lewis, iMergent's president and chief operating officer.