Lycos Asia Lays Off 60% of Staff

12 October 2001

Hit by the ad slump, online portal Lycos Asia, jointly owned by Terra Lycos and Singapore Telecommunications, has axed 60% of its staff.

The redundancies are part of the company’s restructuring to focus on the Chinese-language markets of Hong Kong, Singapore and China. Offices in these three states will henceforth run the portal’s operations throughout Asia.

News source: BBC Online Business News (UK)