Another for F*** lays off 41%

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Date: Thu Jun 22 2000 - 11:28:02 PDT

Wow! 2 days after getting more funding, laying off 41% of staff! CMGi's
share price is down as of the release of this article. lays off 80 employees
 By Greg Sandoval
 Staff Writer, CNET
 June 22, 2000, 10:45 a.m. PT

 Two days after receiving $27 million in private funding,
said today that it will lay off 80 of its 195
 employees, slashing its work force by 41 percent, sources told CNET

 Analyst Jeff Quinn, with research group Gomez Advisors, said
notified him of the layoffs today, saying the cutbacks
 were part of the company's plan to reach profitability. An employee at who was not laid off said the company
 announced the layoffs to the remaining staff this afternoon.

 This is the second round of layoffs for in the past two
months. In April, the company laid off
 29 employees, or about 12 percent of its work force.

 On Monday, the Framingham, Mass.-based company announced it had withdrawn
plans for an initial
 public offering. The company filed for an IPO in January and said at the
time that it hoped to raise $50

 CMGI, which already owned 17 percent of, led the group of
investors in

 In recent months, Internet companies have been running low on cash,
forcing some to trim their staffs or
 even shut down. This month alone, EMusic, and have
laid off workers.

 In the home furnishings sector, rival last month
laid off 50 employees, or about
 13 percent of its work force.

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