Audiohighway.com Lays Off Two-Thirds of Workers

Share this content:
Online media company audiohighway.com yesterday confirmed that 21 of its 30 employees have been laid off.


The layoffs follow a trend of dot-com deaths and downsizing influenced by ill-received earnings reports and declining venture capital funding.


Audiohighway's layoffs followed an earnings report released Tuesday showing a nine-month loss of $12 million against $1.98 million in revenue.


The company blamed the layoffs on a funding commitment that fell through.


"Management and the board of directors wanted to have enough money to secure either a new strategic partner or new funding," chief executive Nathan Schulhof said.


Schulhof said layoffs would not stop the company from functioning as normal, fulfilling advertising commitments and delivering products.
close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above