Ninetowns responds

Following the news pieces on which we reported yesterday, tootoo.com parent Ninetowns has issued a statement clarifying its intentions. This confirms the number of 140 staff to be laid off or 'redeployed'. The company says it wants to reduce overall headcount from 900 to around 750.

The company also notes that "the major technical development of the B2B platform is close to completion" and that it will now focus more on sales and marketing initiatives. "Ninetowns expects to continue to expand the B2B sales and marketing team to focus on building traffic and a solid customer base", the company said.