franco46
06-15-2000, 07:23 AM
Check this! What about the Nomad II deal? Are we going to have a problem with this?
EMusic.com to lay off 20 percent of staff
By Evan Hansen
Staff Writer, CNET News.com
June 14, 2000, 5:20 p.m. PT
Online music retailer EMusic.com today said it will lay off 20 percent of its work force as a cost-saving measure.
The company today also announced that it expects to post record revenues for the second quarter, which ends June 30. The company said the layoffs and other measures will save the company $15 million during the next year.
"While the market for downloadable music is poised for tremendous growth, we recognize the need to manage our expenses wisely and aggressively," said Gene Hoffman, EMusic CEO.
EMusic joins a growing list of dot-com companies that have been forced to cut employees in a bid to stay alive. An increasing number also have had to close their doors.
EMusic launched in 1998, one of the first companies to sell music downloads. The company charges 99 cents for most singles on its Web site. The company has 180 employees after today's layoffs.
EMusic.com to lay off 20 percent of staff
By Evan Hansen
Staff Writer, CNET News.com
June 14, 2000, 5:20 p.m. PT
Online music retailer EMusic.com today said it will lay off 20 percent of its work force as a cost-saving measure.
The company today also announced that it expects to post record revenues for the second quarter, which ends June 30. The company said the layoffs and other measures will save the company $15 million during the next year.
"While the market for downloadable music is poised for tremendous growth, we recognize the need to manage our expenses wisely and aggressively," said Gene Hoffman, EMusic CEO.
EMusic joins a growing list of dot-com companies that have been forced to cut employees in a bid to stay alive. An increasing number also have had to close their doors.
EMusic launched in 1998, one of the first companies to sell music downloads. The company charges 99 cents for most singles on its Web site. The company has 180 employees after today's layoffs.