AltaVista Plans Media Network Biz Exit, 25 Percent Employee Cut

Share this article:
Online search portal and media network AltaVista said it expects to exit the online media network business in an attempt to primarily focus on its search portal, according to reports. This restructure will lead to a cut of 225 jobs, roughly one quarter of the company's staff, the reports said.


The CMGI-owned portal will gradually phase out its branded content channels and personalized pages within the network as part of the restructuring arrangement. Also, the company will consolidate its four California offices into its corporate headquarters in Palo Alto, CA.


The company said that it expects AltaVista North America to reach profitability in the second quarter ending Jan. 31, 2001. It also will undergo a $7.5 million one-time charge this quarter for the restructuring. AltaVista will remain in the free Internet access business, but its global business focus will be search services.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

IAB Tech Lab to Set Global Digital Marketing Standards

IAB Tech Lab to Set Global Digital Marketing ...

In looking to solve complex tech issues, the association opens up full membership to agencies and solutions providers.

Integration Meets Innovation in Planters' Digital Campaign

Integration Meets Innovation in Planters' Digital Campaign

The snacks brand found a healthy way to navigate today's world of digital marketing saturation.

USA Today Decides to Play Games for Real

USA Today Decides to Play Games for Real

It partners with game-maker Arkadium to add 60 new digital games to its site, offering advertisers more segmented breakdowns of players.