Four More Dot-Coms Reduce Staff to Stay Afloat
First ecom.com, Hong Kong, an electronic payment processing site, Dsl.net Inc., New Haven, CT, a high-speed data communications and Internet access provider, and JuniorNet Corporation, Boston, a provider of children content on the web, said Friday that they would cut about a third of their work force. More dramatically, ThingWorld, Watertown, MA, a provider of audio and video content, said it would cut 35 jobs, or 70 percent of its work force as a push for profitability, and is talking about the possibility of a sale or merger.
"The decision to reduce the work force was made in conjunction with our decision to slow down the deployment of our network into new territories, and then focus on continued revenue growth and quality customer care," DSL.net president/CEO Keith Markley said in a statement.
"While we have a strong balance sheet with minimal debt, the actions we are taking are designed to proactively prevent the financial difficulties other Internet-related companies are experiencing in today's market climate."