Feeds

Lycos Europe axes 300 jobs

More dotcom woe

  • alert
  • submit to reddit

Internet Security Threat Report 2014

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. ®

Internet Security Threat Report 2014

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

Seattle children’s accelerates Citrix login times by 500% with cross-tier insight
Seattle Children’s is a leading research hospital with a large and growing Citrix XenDesktop deployment. See how they used ExtraHop to accelerate launch times.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
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?
Business security measures using SSL
Examines the major types of threats to information security that businesses face today and the techniques for mitigating those threats.