, a global provider of e-commerce services to retailers and other online sellers, is laying off up to 60 of its 290 workers.

The 19 percent work force reduction is part of a company-wide reorganization scheduled mfor a Friday announcement.

Of the layoffs, 25 are being made at ChannelAdvisor’s Morrisville headquarters, Chairman and Chief Executive Officer Scot Wingo told Local Tech Wire and WRAL.com. The laid-off workers got severance packages and will receive outplacement services, Wingo said.

“When we started looking at 2009, we started getting really cautious about where consumer confidence is, where the government efforts announced in September haven’t played out and the failure of tons of retailers, which is a trend we really have to watch because so many of our customers are retailers,” Wingo said.

As a result, Wingo said ChannelAdvisor “brought down” its 2009 revenue forecast “pretty substantially.”

“We could not maintain our profitability,” he said, “and that led to the action we are taking.”

Other cuts in expenses are being made, ranging from no more free sodas for employees to renegotiated agreements with vendors and service providers, Wingo said. However, he said ChannelAdvisor would not close any offices.

The company also is reallocating funds internally based on growth prospects, he added. For example, ChannelAdvisor will invest less in its eBay sales channel and more in support of Amazon’s Web commerce efforts. EBay recently reported a dismal quarter for earnings. EBay is a ChannelAdvisor investor.

ChannelAdvisor also will scale back its annual ecommerce sales conference. “We’ll probably serve box lunches rather than shrimp,” Wingo said.

The cuts came despite the fact ChannelAdvisor was profitable for the first time in the fourth quarter of 2008, according to Wingo. He noted that the company had a “run rate” of $100 million in merchandise handled through its services. ChannelAdvisor makes its money on service fees associated with goods and services sold online.

Wingo’s plan is for ChannelAdvisor to record its first full year of profitability in 2009.

“We decided to take our foot off the gas pedal,” he said. “We could have kept the gas pedal pressed to the floor and it wouldn’t do any good.”

Founded by Wingo, a serial entrepreneur, ChannelAdvisor has been one of the Triangle’s best-known “dot-com” success stories. The company closed on $20 million in new venture funding in September and reported record sales days during the Thanksgiving and Christmas shopping seasons.

However, shortly after raising its new funding last year, ChannelAdvisor cut 70 people, including four vice presidents, as part of a reorganization. Of the cuts, 45 took place in the Triangle.

The layoffs and an increase in online sales over the holidays helped ChannelAdvisor break into the black, Wingo explained.

As part of the new changes, Wingo said no top managers would be leaving, but several were assuming new titles and/or additional responsibilities:

  • Michael Jones is now chief revenue officer. He had been vice president of sales.
  • David Spitz, who had been vice president of operations, is chief operating officer.
  • General Counsel Scott Aldridge, meanwhile, will take on more responsibilities involving human resources.

Wingo remains chairman and CEO.

ChannelAdvisor raised $30 million in 2007 and made two acquisitions over the next year. It raised $18 million in 2005 and $4 million in 2004. Since its founding, ChannelAdvisor has brought in $84 million, according to Wingo.

Wingo recently told Local Tech Wire that ChannelAdvisor had added 1,500 customers over the past year, giving it more than 6,000.

ComScore, which tracks online commerce and other trends, reported last month that overall e-commerce sales for the holiday season through Dec. 5 were $14.92 billion. That’s roughly equivalent to 2007 spending. However, the post-Thanksgiving weekend capped by Cyber Monday produced a 9 percent increase to $3.74 billion from a year earlier.

ChannelAdvisor works with online retailers in three ways – paid search, comparison shopping and through online marketplaces.

The company has other offices in Seattle, Atlanta, Berlin, London and Melbourne, Australia.