Feeds

Lycos Europe axes 300 jobs

More dotcom woe

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

Lycos Europe is to axe 300 jobs in a bid to cut costs amid the slump in online ad sales.

It claims that the major restructuring will help it to slash its quarterly EBITDA (earnings before interest, tax, etc) losses from around E40 million (£25 million) to as little as E10 million (£6 million) by June next year.

Three countries - France, Germany and Sweden - will bear the losses. A spokeswoman for Lycos said no jobs would be lost in the UK as part of this restructuring.

Following the redundancies Lycos Europe - whose major shareholders include Bertelsmann/Gruner+Jahr and Terra Lycos - will employ just under 1,000 staff.

The portal outfit - which uses a black Labrador in its advertising - blamed its decision on the "disappointing development of the online advertising market".

In a bid to insulate it from further falls the company said it would look at creating new revenue sources. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?