Jobs losses coming at CNN Web sites
Published: 18 Jan 2001 16:57 GMT
International news organisation CNN has confirmed that it is going to cut hundreds of jobs, including more than 100 from its Internet operations, as part of an internal reorganisation.
Four hundred jobs will be axed across the organisation, part of the Time Warner group, representing ten per cent of the total workforce. Around a third will go from the CNN.com and CNNfn.com Web sites which will be integrated more closely with CNN's television channels.
Rumours surfaced last week that up to 1,000 employees could be facing the chop, following an internal email warning of "aggressive changes" to the company structure.
This is the latest in a series of job cuts to hit a Web content service, and comes only a day after Internet portal Yahoo! warned of a decline in online advertising.
Earlier this month the New York Times announced plans to slash 69 jobs, or 17 percent of the work force, from its money-losing Internet unit.
Other companies have taken even more extreme steps in their march along the path to profitability, with some US-based dot-coms choosing to end European operations.
For example, despite claims from senior staff that it was meeting all its targets, TheStreet.co.uk was shut down in November 2000 by its American parent TheStreet.com.
And personal investment site The Motley Fool closed its German site earlier this month after failing to find a business partner.
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