B2bstores to Slash Expenses; Top Execs Quit

B2bstores.com Inc., which manages a Web site where businesses can buy and sell supplies, said it plans to cut jobs and slash spending on advertising and service contracts as it considers a possible sale or merger. The Long Beach-based company also announced the resignations of Chief Technology Officer Jeffrey Crandell and Shannon Jessup, executive vice president of business development. Woo Jin Kim, who was replaced as chief executive last month, and Garrick Hileman also resigned from the board. B2bstores.com didn’t say how many of its 43 employees would lose their jobs. Shares of B2bstores.com, which have fallen about 77% since the company went public in February, closed up 41 cents to $1.88 on Nasdaq.