Digital River, a Minnetonka-based e-commerce pioneer with a global client roster, is shuttering its headquarters and laying off 122 employees after more than 30 years in business.
The permanent layoffs, which include remote workers across the country, should start March 28, according to a WARN notice Digital River filed Monday with the Minnesota Department of Employment and Economic Development. The company is permanently closing its offices, the notice said.
In a Monday message to employees which the Minnesota Star Tribune obtained, owner and CEO Barry Kasoff described mounting financial pressures including “the rapid contraction of key customers, combined with the headwinds presented by new deals with shorter payment terms and U.S….
