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:
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

News Byte: CX Scores to Take Their Place Beside Price Listings

News Byte: CX Scores to Take Their Place ...

E-commerce aggregator PriceGrabber will begin offsetting price info with service expectations.

Data Byte: Interactive Ad Revenues Exceeding TV for the First Time

Data Byte: Interactive Ad Revenues Exceeding TV for ...

At nearly $43 billion, interactive advertising revenues exceeded broadcast for the first time in 2013.

Marketers: Data Rich and Knowledge Poor

Marketers: Data Rich and Knowledge Poor

While advertisers have become incredibly data-savvy, the most difficult challenge remains causally linking that data to outcomes that really matter.