Excite@Home cuts 250 staff
Blames 'changing online media world'
ISP Excite@Home has laid off 250 people, or eight per cent of its workforce.
Most of the job cuts were in the online content area of the California dotcom, or were corporate staff.
Its @Home at @Work units, which provide high speed Internet access over cable lines, are not affected by the cuts.
"While content services remain a compelling element of our opportunity, it is critical that the cost structure of our media business correlate with the changing online media world," said Excite@HOme chairman and CEO George Bell.
"As we mature as a business and drive towards profitability, we continue to refine our core business."
"We remain focused on rolling out our broadband services as aggressively as possible. In achieving our aggressive subscriber growth target for the fourth quarter, we are intent on turning this momentum into a trend toward profitability," he added in a statement issued late this afternoon.
The company is due to report its fourth quarter results after the market shuts on Thursday. ®