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Lycos Asia - a joint venture Singapore Telecommunications and Terra Lycos - has axed two thirds of its staff.

Around 300 jobs are to go as the portal struggles to stay afloat during the ebbing tide in advertising sales.

Instead, the operation is to concentrate on three core Chinese-language markets - Singapore, Hong Kong and China - according to the BBC.

Last month Lycos Europe confirmed its intention to slash 300 jobs in a bid to cut costs amid the slump in online ad sales.

All the job losses were concentrated on France, Germany and Sweden. ®

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