Money-losing Web portal lays of 25 percent of staff to achieve profitability
Published:
15 September 2000 y., Friday
The money-losing Web portal AltaVista said Friday that it has laid off 225 people, or 25 percent of its work force, as part of a series of steps to achieve profitability.
AltaVista, which is 80 percent owned by Internet incubator CMGI, said that it has "completed the realignment of its California operations to its Palo Alto headquarters and has reduced its work force 25 percent as part of recent steps to achieve near-term profitability."
The Web portal, which lags well behind industry leader Yahoo! in advertising revenue, said that its North American operation intends to be profitable, excluding amortization expenses, in the quarter ending Jan. 31, 2001.
Many of the people laid off Friday did content development work for the portal. AltaVista said that it would sharply reduce the amount of content that it produces and instead concentrate on providing Web search services. That strategy contrasts with Yahoo!, which started out as a search service and later diversified into providing its own content and aggregating content produced by other companies.
AltaVista had about 17.4 million unique visitors last July, according to MediaMetrix, making it the eighth-busiest site on the Web. However, AltaVista lags behind Yahoo!, which had 49 million unique visitors that month, and competitors Lycos and Excite.
Šaltinis:
CNNfn
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
On 22 of June this year, the board of the newly established company of AB Bank SNORAS - UAB “SNORO Media Investicijos” - made a decision to invest in the shares of UAB “Lietuvos rytas” and to acquire 34 per cent of the authorised capital of the company.
more »
The Banker's Exchange is joining forces with Chicago-based Intergam Logistics as part of a global expansion initiative into the ATM support market.
more »
Lisbon treaty and financial supervision dominate debate at EU summit.
more »
In the most sweeping financial reform proposal since the Great Depression, President Barack Obama unveiled plans to overhaul the U.S. financial regulatory system, saying the events that led to the U.S. financial crisis make the proposed changes necessary.
more »
Due to the rising concerns on a possible disruption of Russian gas supplies to Europe coming through Ukraine, the Commission has chaired a meeting of the Gas Coordination Group to assure a stronger EU coordination and to secure energy supplies to European citizens.
more »
Mexico signs an agreement with Google to help revive tourism at its historical sites, after the swine flu epidemic.
more »
The recession could hit working women harder than men, an EU study warns, underscoring persistent disparities between the sexes in the European labour market.
more »
The first 4 months of 2009 saw 25 percent more FBI background checks on prospective firearm buyers compared to the same period last year in US.
more »
AS “Latvijas Krājbanka”, managed by AB Bank SNORAS, was presented with the annual prize of Deutsche Bank AG, one of the largest European banks, for the excellent quality of the outgoing payments.
more »
Danske Bankas has made another increase in the interest rate for fixed-term deposits in litas for both private and corporate clients.
more »