Vicinity Corp. to Cut 40 Workers

Share this content:
Vicinity Corporation, a provider of Internet, wireless and telephone-based marketing tools, said it would reduce its staff by 20 percent -- eliminating some 40 jobs.


The announcement came despite the company reporting revenues of $5.4 million for the first quarter of fiscal 2001.


The Sunnyvale, CA, company said the cuts were across the board. Approximately 160 employees would remain, the company said.


"We are experiencing the same general economic slowdown as many other companies, which is resulting in lower spending by the companies we target," said Emerick Woods, president and chief executive officer at Vicinity. "We are maintaining our commitment to achieving profitability on a now-lower revenue forecast, which has required some action on the staff side, in terms of cost reductions."


Woods said that the company expects to reduce its cash burn rate by approximately 35 to 50 percent per quarter.


"We do not feel this in any way compromises our ability to continue to support and service our customers at the same high levels they have experienced in the past," he said.


The staff reduction is the company's second round of cuts. In November, Vicinity laid off 20 people, Woods said.
Loading links....
close

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's 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