Stamps.com Chops Work Force in Half

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Internet postage service Stamps.com will reduce its work force by 50 percent, hoping to "streamline operations" and become profitable, the company said yesterday.


The company said it would cut a total of 150 jobs from its Bellevue, WA, office and its headquarters in Santa Monica, CA. The layoffs were across the board, reaching all departments, the company said.


"The plan reflects our commitment to getting Stamps.com back to the basics, operating on the most efficient levels and becoming profitable," CEO Bruce Coleman said.


Stamps.com intends to achieve profitability partly by focusing its efforts on online marketing, said Seth Oster, vice president of corporate communications.


The cuts come a little more than three months after the company cut its staff by 40 percent, eliminating some 240 positions.


The company would not reveal how much it expects to save as a result of the cuts. Oster said savings projections would be released with the company's next quarterly earnings call.
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