Excite@Home slashes 380 jobs
Maypole dancing is cancelled
Excite@Home stuck two fingers up to its workers yesterday after it announced 380 redundancies on the eve of May Day celebrations marking the struggle of workers everywhere.
There will be no maypole dancing at the broadband outfit's offices in Redwood City, California, today - no skulking off with the milkmaid for a rummage in the hay after downing a quart of cider.
No. Instead those workers - from across the company although mostly from the outfit's loss-making media sections - will be trying to find new jobs.
This latest round of redundancies follows the loss of 250 jobs in January.
Said Mark McEachen, executive VP and CFO: "We are reducing our workforce to better align our operating expenses with our revenue.
"This action is necessary to achieve our goals of continuing to provide value to our shareholders and customers," he said.
Last week Excite@Home reported it was losing even more cash than before with an increased Net loss for Q1 of $832.6 million. ®