Visit Twellow.com

InfoSpace To Lay Off Around 35 Employees


New Year, new budget cuts

We made it through the holiday season, but we have not, it seems, made it to the end of a rash of layoffs.  Those continued today as it was discovered that InfoSpace would fire about 20 percent of its staff.

InfoSpace is best known for its ownership of the search engine Dogpile.  And given that Dogpile is (at least in some circles) valued more for its holiday graphics than its search abilities, we agree that a few changes are needed.  It's a bit sad to see more people lose their jobs, though.InfoSpace To Lay Off Around 35 Employess

InfoSpace claims the layoffs, along with other cost-cutting measures, should save around $8 million.  Rafat Ali notes, "Also, the company has appointed Bruce Allenbaugh to the new position of Chief Marketing Officer.  Among other things, Allenbaugh served as VP-marketing for Avenue A (now aQuantive)."

So we'll see what these changes accomplish.  For the time being, the market seems unimpressed - InfoSpace's stock is down 17 cents from its opening price.  Yet, in one more good news/bad news sort of scenario, the Nasdaq is also down, so the drop may have been hard to avoid.

Digg This! StumbleUpon This!
AddThis Social Bookmark Widget

News Tags: Dogpile, InfoSpace
About the author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
14 + 3 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.