DoubleClick Slashes Global Media Jobs

Share this article:
After announcing earlier this month that its Global Media group posted 65 percent lower net revenue for the third quarter compared with last year, DoubleClick Inc. eliminated some positions in the group. The company said the cuts were in line with its effort to achieve profitability in 2002.


In a statement, DoubleClick reiterated remarks made in a conference call Oct. 11, in which it warned more job cuts would be coming in the fourth quarter.


"As we stated [in the Oct. 11] earning call, DoubleClick plans to be profitable for the full-year of 2002," the statement read. "In line with that commitment, we stated that we were going to be taking steps to cut expenses and to run our businesses more efficiently. The steps we took [Oct. 17] in our media division are absolutely in line with that commitment. As a result, we have greatly increased the percentage of people associated with increasing revenue in that division."


The statement did not mention the number of employees let go in this round of job cuts, but sources said 20 of the media group's 88 employees were let go. DoubleClick has more than 1,500 employees, down from about 1,650 in the third quarter.


The company said Oct. 11 its loss for the third quarter ended Sept. 30 rose to $103.5 million, or 77 cents per share, from $10.7 million last year, or 9 cents per share.


It also reported lower net revenue of $92.7 million for the quarter, down 31 percent from $135.2 million a year ago.


DoubleClick's media group posted $22.2 million in net revenue, down from $64.3 million a year earlier. The company forecasts fourth-quarter media revenue of $20 million to $23 million.


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

Hallmark Takes Baby Steps to a New Brand

Hallmark Takes Baby Steps to a New Brand

The company relied on digital to get its growing children's apparel brand off of the ground.

One Third of Americans' Social Media Time Is Spent on Facebook

One Third of Americans' Social Media Time Is ...

Pandora, meanwhile, attracts more user time but far fewer digital advertisng dollars, says a study.

News Corp. Chief Brands Google an 'Unaccountable Bureaucracy'

News Corp. Chief Brands Google an 'Unaccountable Bureaucracy'

Robert Thomson warns the EU that an antitrust deal with Google will lead to a decrease in competitive options for marketers and an increase in piracy.