Around eight per cent of Excite@Home employees are to lose their jobs in a long-expected retrenchment by the broadband internet service provider.
Two hundred and fifty staff are affected, most of them employed at Excite’s corporate office and Excite Studios, which produces content for the company and its offshoots. Two units are spared the axe, however – Excite’s broadband access service and its @Work business team, both active in the consumer and commercial broadband sector where growth remains buoyant.
The layoffs follow a recent reorganization in which Excite announced that ceo George Bell would step down to become chairman effective January 26. A successor is sought.
News source: Advertising Age - International Daily