The-bullet.com, the online mag for "new media people" , is ceasing day-to-day operations.

It is set to shut up shop later today before undergoing a period of restructuring brought about by "market conditions".

Founder Jo Monroe was in sombre mood this morning as she confirmed that staff had been sent home on full pay and that expenses would be paid.

She was reluctant to go into detail although about the future of the e-zine but did suggest that the closure would not be permanent.

A quick scan of the site reveals that no stories have been posted since last Friday.

This can only add to the mood of uncertainty currently hitting the dotcom world. ®