IBill Lays Off About 50 Employees, Sources Say

DEERFIELD BEACH, Fla. — Widespread Internet rumblings were confirmed today, indicating that the beleagured payment processor has indeed let go employees from multiple departments and that the firings were caused by iBill's recent financial troubles with its former credit card processor First Data.

Internet payment processor iBill fired about 50 employees yesterday across a wide variety of departments, sources within the company confirmed for XBiz Wednesday.

Included in the layoffs was the woman who posted the Commerce Management Interface updates regarding the current state of delinquent payments caused by iBill’s recent financial woes.

Word of the firings began to spread around adult webmaster forums on Tuesday evening.

One user, who said he was one of the iBill employees that was let go, posted on GoFuckYourself.com that about 50 people had been let go from the company and that severance pay and retirement benefits for the former employees was in question.

“Please understand that there are only 45 employees left,” wrote the poster. “The customer service [department] is mainly temps.”

“Yes, we are concerned about the 401k money that was not paid since July,” the poster wrote. “And, yes, we are concerned if a paycheck is coming in the mail (“In the mail”… how many times was I scripted to say that?) along with untaken vacation pay.”

Calls made by XBiz to iBill officials were not returned and calls made to the sales department were routed to a terminated employee’s voicemail.

The firings come less than a week after a risk-assessment analyst posted on the XBiz boards regarding the poor management conditions that may have led to iBill’s current problems.

“It appears indeed that iBill was relying on future sales to pay previous obligations, such as webmaster payouts, while current webmaster revenue was used for operating costs,” posted Grant L. Hutchison, chief security officer for Militis Intelligence Corp, suggesting that iBill was effectively living “paycheck-to-paycheck” instead of holding funds in reserve.

“[This is] a practice any risk-assessment team would have found inappropriate at best, with reasonable grounds,” Hutchison said. “It led to iBill defaulting on webmaster payments as early as mid-September.

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Florida AG Asks for Halt of AV Lawsuit Pending SCOTUS Decision

Florida Attorney General Ashley Moody has filed a motion asking a federal court to halt the Free Speech Coalition (FSC) lawsuit challenging HB 3, the state's age verification law, pending the Supreme Court's ruling in the Free Speech Coalition-led challenge to Texas’ age verification law, HB 1181.

VRPorn.com Launches 'Virtual Reality Porn' Meme Coin

VRPorn.com has launched a new cryptocurrency meme coin on its platform.

Angie Rowntree's Sssh.com Celebrates 25 Years of Pioneering Erotica

Over 25 years ago at an adult internet trade show called IA2000, a producer warned filmmaker Angie Rowntree that there was no market for “porn for women.”

Streamate Spotlights Savannah Sly as December 'Elevate' Community Partner

Streamate has selected New Moon Network founder and co-director Savannah Sly as its Elevate Community Partner for December.

LaBellaDX Launches New Site Through YourPaysitePartner

Content creator LaBellaDX has launched her new official website through YourPaysitePartner (YPP).

Clip Page Launches 'Creator Analytics' Feature

Custom content marketplace Clip Page has launched the Creator Analytics feature on its platform.

BBWXXXAdventures Relaunches Through Grooby's Blue.xxx

Paysite BBWXXXAdventures has relaunched under Grooby's new website management company Blue.xxx.

Flirt4Free Announces 'Tease the Season' Holiday Contest

Flirt4Free has announced its Tease the Season promo and model contest, which will run Dec. 21-25.The competition is led by the return of the Snowflake Contest, where models can be gifted digital snowflakes by their fans. The models who collect the most snowflakes by 11:59 a.m. on Christmas Day will win cash prizes.

SWR Data Publishes 2024 'Top Creator Platforms' Report

Adult industry market research firm SWR Data has published a report on the Top Creator Platforms of 2024.

MintStars Joins Pineapple Support as Supporter-Level Sponsor

Content platform MintStars has joined the ranks of over 60 adult businesses and organizations committing funds and resources to Pineapple Support.

Show More