Tales of the New Economy: Merry Christmas: you're fired

Jose G. Perez jgperez at SPAMnetzero.net
Fri Dec 22 18:48:15 MST 2000




[From The Standard, self-proclaimed intelligence for the new economy]

December 22, 2000, 1:37 PM PST

Sugarplum Fairies and ... Pink Slips

Just before the holidays, Net advertising firm Real Media tells its staff
that it will lay off 50 U.S. employees.

By Jennifer Greenstein and Kenneth Li

Real Media joined its colleagues in the Internet advertising and consulting
industry Friday by laying off a good chunk of its staff, but the company
distinguished itself by displaying the worst timing: It broke the news to
its staff on the last working day before Christmas.

The company is laying off 50 people in the U.S., which works out to about 20
percent of its U.S. workforce. The company employs about 550 workers
worldwide, but the layoffs only affected those in the U.S. The cuts come
because Real Media - like so many other Net-based companies, especially
those in the online advertising industry - is struggling to turn a profit.
The company expects to get there in the middle of next year, according to
Dave Morgan, the company's co-chairman.

[full article at:

http://www.thestandard.com/article/display/0,1151,21065,00.html






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